STOCKS: Sensex Down By 450 Points; Bajaj Finserv Slumped 2.39%

MUMBAI: The Indian equities markets opened at a negative note on Tuesday with the benchmark Sensex down more than 450 points. The 30-stock S&P BSE Sensex of the Bombay Stock Exchange opened in the red at 58,059.76 points and slumped to a low of 57,843.12 points in the early trade. The index recovered a bit and touched a high of 58,187.91 points. However, it again fell sharply, and at around 10.50 am the index was trading at 57,832.77 points, 0.77% or 450.65 points lower than the previous day's close at 58,283.42 points.

The broader Nifty 50 of the National Stock Exchange (NSE) also opened in the red 17,283.20 points. The Nifty 50 was trading at 17,234.45 points at around 10.50 am on Tuesday, 0.77% lower than the previous day's close at 17,368.25 points.

Bajaj Finserv slumped 2.39% to Rs.16906.40. Bajaj Finance dipped 2.33%  to Rs.7051.70. Other major Sensex losers included Kotak Bank 2.12% down at Rs.1833.50; ITC down 1.66% at Rs.230.80; Mahindra & Mahindra down 1.65% at Rs.829.10; HDFC 1.42% down at Rs.2731.50 and IndusInd Bank 1.19% down at Rs.927.05.

Only eight of the 30 stocks that are part of the benchmark Sensex were trading in the positive. Power Grid Corporation jumped 2.18% to Rs.208.80. Hindustan Unilever 0.44% higher at Rs.2316.55; Dr Reddy 0.37%  higher at Rs.4615.45 and NTPC 0.28% higher at Rs.126.05 were among the major Sensex gainers.