Sensex plunges over 350 points; Nifty below 10,800

NEW DELHI: Markets on Tuesday opened in red with the benchmark BSE Sensex sliding over 350 points amid weak global cues as investors waited to see if Washington and Beijing can clinch a trade deal.

Sensex plunged 352 points or 0.97 per cent to 35,861, while the broader NSE Nifty moved 102 points or 0.94 per cent lower to trade at 10,778.

Yes Bank, Hero MotorCorp, ICICI Bank, SBI, Tata Steel and Sun Pharma were among the major losers on BSE with their stocks sliding as much as 2.55 per cent. Out of 30, just four stocks were trading in green on the 30-share BSE index. On NSE, all sub-indices were in red with Nifty Realty and PSU Bank dipping the most, down as much as 3.07 per cent.

Meanwhile, the rupee depreciated 30 paise to 71.30 against the US dollar in early trade on Tuesday at the forex market on fresh demand for the US currency from importers.

Strength in dollar against some currencies overseas and a lower opening in domestic equities kept pressure on the domestic unit, dealers said.