Mumbai (Maharashtra) [India], Apr 22 (ANI): Equity benchmark indices on Monday ended at day's low as Sensex tumbled 495 points and selling pressure dragged Nifty below the 11,600 mark.
All sectoral indices except IT were in the red ink. The SP BSE Sensex closed at 38,645 while the Nifty 50 dipped about 158 points at 11,594.
As global crude oil prices shot up by almost 3 per cent, stocks of Bharat Petroleum slipped 5 per cent to close at Rs 344.20. Indian Oil also closed the day about 4 per cent down at Rs 150 each.
Financial stocks also dragged the indices further. Yes Bank and Indiabulls Housing Finance were down by about 3 per cent.
Heavyweight Reliance Industries closed 2.7 per cent down after corporate results last week showed that its retail and digital businesses grew faster than the mainstream oil refining.
Beleaguered Jet Airways, which has suspended all its flight operations for some time, suffered a blow of 5.7 per cent and wound up at Rs 154.60.
However, IT stocks like Wipro, Tata Consultancy Services and Infosys besides Power Grid and Tata Motors showed marginal gains.
Meanwhile, Asian shares slipped due to underperforming Chinese stocks.
Investors remained cautious with the United States set to announce a further clampdown on Iranian oil exports that will tighten global supplies.