Sensex tumbles over 300 points, Nifty slips below 18,200

BSE Sensex was trading 306.32 points or 0.50% lower at 60,837.01; NSE Nifty fell 89.50 points or 0.49% to 18,121.45

Equity benchmark Sensex drops over 300 points in early trade on October 28 tracking losses in index majors ICICI Bank, HDFC and Infosys, amid a weak trend in global markets and unabated foreign fund outflow.

The 30-share index was trading 306.32 points or 0.50% lower at 60,837.01 in initial deals. Similarly, the Nifty fell 89.50 points or 0.49% to 18,121.45.

ICICI Bank was the top loser in the Sensex pack, shedding around 2%, followed by Tata Steel, ITC, SBI, HDFC and Titan.

On the other hand, IndusInd Bank, L&T, Bajaj Auto and Bajaj Finance were among the gainers.

In the previous session, the 30-share index ended 206.93 points or 0.34% lower at 61,143.33, and Nifty fell 57.45 points or 0.31% to 18,210.95.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they offloaded shares worth ₹1,913.36 crore on October 27, as per exchange data.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo were trading with losses in mid-session deals, while Seoul was positive.

Stock exchanges in the U.S. ended on a negative note in the overnight session.

Meanwhile, international oil benchmark Brent crude fell 2.25% to $81.98 per barrel.

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