Sensex down over 100 points, Nifty below 11,150

WION Web Team NEW DELHI Jul 27, 2020, 02.50 PM(IST)

File photo. Photograph:( Reuters )

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The S&P BSE Sensex dipped 120 points to 38,000 levels while the Nifty50 index slipped below the 11,200 mark.

The domestic stock market indices inched lower on Monday as heavyweight banking stocks fell after a central bank report forecast that bad loans could soar due to a rise in pandemic-led debt burdens, with a record jump in daily virus cases also denting sentiment.

The S&P BSE Sensex dipped 120 points to 38,000 levels while the Nifty50 index slipped below the 11,200 mark. Among individual stocks, HDFC Bank dipped over 3 per cent after Managing Director Aditya Puri sold 95 per cent of his shareholding in the bank valued at Rs 842.7 crore between July 21 and July 23.

During the day trade S&P BSE Sensex was down over 200 points while the 50-stock Nifty slipped below the 11,150 mark. 

Meanwhile, the rupee pared its initial gains and settled on a flat note at 74.83 (provisional) to the US dollar. At the interbank forex market, the domestic unit opened on a strong note at 74.70, but erased the gains to finally close at 74.83, unchanged from its previous closing.

(With inputs from agencies)