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Sensex loses over 300 points, Nifty below 11,000; PSU banks, auto stocks fall

Sensex loses over 300 points, Nifty below 11,000; PSU banks, auto stocks fall

Sensex loses over 300 points, Nifty below 11,000; PSU banks, auto stocks fall
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By Mousumi Paul  Sept 16, 2019 1:27:51 PM IST (Published)

The Indian market was trading lower on Monday as oil prices surged after the drone attack in Saudi Aramco's facilities.

The Indian market was trading lower on Monday as oil prices surged after the drone attack in Saudi Aramco's facilities. At 1:22 pm, the BSE Sensex was trading at 37,054, down 330.08 points, or 0.88 percent, and the Nifty was trading at 10,978.05, down 56.70 points, or 0.36 percent.

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The Nifty PSU Bank index remained the worst-performer followed by Nifty Metal and Nifty Auto. Most sectors traded in the red. Nifty Media, Nifty FMCG and Nifty Pharma traded in the green.
GAIL, Titan, Indiabulls Housing Finance, Hindustan Unilever and Sun Pharma were the top gainers, while BPCL, Yes Bank, Indian Oil Corporation, UPL and Asian Paints were the major laggards.
The share price of Prabhat Dairy plunged 10 percent intraday after the company’s board approved delisting of shares at a much lower price.
Shares of Equitas Holdings fell 17 percent on Monday after Securities and Exchange Board of India (Sebi) returned the draft scheme for listing its wholly-owned subsidiary Equitas Small Finance Bank.
Gold prices resumed their upward trend on Monday after falling for several sessions in the last two weeks as attacks on Saudi Arabia's oil facilities have sent investors looking for safe-haven assets.
Meanwhile, oil surged to four-month highs on Monday after weekend attacks on crude facilities in Saudi Arabia sparked supply fears, while shares in Asia extended losses as bleak economic data from China sapped investors' appetite for riskier assets.
 
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