Sensex falls 443 points as HDFC Bank, Axis Bank drag markets lower
Benchmark equity indices ended lower on Monday, weighed down by sharp losses in HDFC Bank and Axis Bank following their quarterly earnings, while renewed US-Iran tensions also dampened investor sentiment.
The BSE Sensex fell 442.93 points, or 0.57%, to close at 77,708.52 after tumbling as much as 783.16 points during the session. The NSE Nifty50 declined 95.80 points, or 0.39%, to settle at 24,238.50.
Axis Bank was the biggest loser among Sensex stocks, plunging 5.48%, while HDFC Bank dropped 5.12% after its earnings disappointed investors, particularly on net interest margins (NIMs).
Other major laggards included Maruti Suzuki, Kotak Mahindra Bank, Infosys, Tata Consultancy Services, Mahindra & Mahindra and Bharat Electronics. On the other hand, Trent, Power Grid, NTPC and Bharti Airtel ended with gains.