Sensex down 300 pts; telcos decline, Bharti Infratel dips 12%
indian equity markets continued to reel under pressure on Tuesday, weighed down by banking stocks which have significant exposure to Vodafone Idea debts and weak global sentiment owing to coronavirus outbreak.
The S&P BSE Sensex slid over 400 points, or 1 per cent, to 40,645 levels. NTPC (down over 5 per cent) was the biggest loser. Besides, Tata Steel, NTPC, and Sun Pharma also slipped over 2 per cent each.
Ailing telecom player Vodafone Idea slipped over 11 per cent to Rs 2.91 apiece on the BSE after the Supreme Court dismissed its plea seeking relief from revocation of its bank guarantee. READ MORE
On the NSE, the broader Nifty50 index slipped below the crucial 11,950-mark, down 125 points or over 1 per cent.
In the broader market, the S&P BSE MidCap index was trading over 1 per cent lower at 15,360 levels while the S&P BSE SmallCap index traded at 14,360, down 167 points or 1.15 per cent.
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