Selloff in global markets spooks Dalal Street; Sensex tumbles 629 points

The selloff in global equities markets amid a surge in crude oil prices spooked Dalal Street on Tuesday leading to a more than one percent slump in the key indices Sensex and Nifty.

The selloff in global equities markets amid a surge in crude oil prices spooked Dalal Street on Tuesday leading to a more than one percent slump in the key indices Sensex and Nifty. The 30 stock S&P BSE Sensex was trading 584.56 points or 1.05 percent down at 55,090.76 points at 12.45 pm against its previous day's close at 55,675.32 points.

Earlier, the Sensex opened in the negative at 55,373.18 points and slumped to a low of 54,882.41 points. The Sensex had lost 93.91 points or 0.17 percent on Monday. The broader Nifty 50 of the National Stock Exchange was trading 161.25 points or 0.97 percent down at 16,408.30 points against its previous day's close at 16,569.55 points.

The Nifty started the day sharply down at 16,469.60 points and slumped to a low of 16,347.10 points in the intra-day. The Nifty had lost 14.75 points or 0.09 percent on Monday. Titan tumbled 4.52 percent to Rs 2100. Dr. Reddy's Laboratories slumped 3.22 percent to Rs 4170. L&T fell 2.72 percent to Rs 1593. Hindustan Unilever slumped 2.70 percent to Rs 2218.

Asian Paints, Bajaj Finance, Tata Consultancy Services, Bajaj Finserv, Nestle India, and HCL Technologies were among the major Sensex losers. Only four of the 30 scrips that are part of the Sensex were trading in the positive. NTPC, Reliance Industries, Power Grid Corporation, and Maruti Suzuki were trading in the positive with marginal gains.