Sensex plunges 300 points to end at 33,746.78; Nifty closes at 10,358.85

In the wake of weak sentiment in Asia markets, benchmark indices closed lower for the fourth straight session today, with the Sensex losing 300.16 points or 0.88 percent to 33,746.78 and the Nifty declining 99.50 points or 0.95 percent to 10,358.90. President Trump's talk of a trade war, elections in Europe and the outcome of three states elections back home reportedly influenced investor sentiment on Dalal Street on Monday.

According to market observers, heavy selling pressure was witnessed in metals, oil and gas, auto, capital goods and banking stocks.

Consequently, the 30-scrip Sensitive Index (Sensex) of the BSE closed the day`s trade at 33,746.78 points, down 300.16 points, or 0.88 per cent, from its previous close of 34,046.94 points, while the wider Nifty50 of the National Stock Exchange (NSE) edged-lower on Monday. It closed lower by 99.50 points, or 0.95 per cent, to close at 10,358.85 points.

In the intra-day trade, the S&P BSE Sensex touched a high of 34,034.28 points and a low of 33,653.41 points.

Market sentiment was dampened as India's services sector contracted in February and fell to a six-month low, as new work orders suffered amid weak underlying demand conditions, says a monthly survey.

The seasonally adjusted Nikkei India Services Business Activity Index fell from 51.7 in January to 47.8 in February, its lowest level since August.

The losses came even as Bharatiya Janata Party's strong showing in three Northeast states, brokers said.

(With Agency inputs)