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Sensex falls over 600 points in opening trade; Nifty below 15,000 – Times of India

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NEW DELHI: Equity indices plunged in morning trade on Monday with the benchmark BSE sensex falling over 600 points, dragged mainly by banking stocks as nine bank unions called for a two-day nationwide strike.
The 30-share BSE index fell 680 points or 1.33 per cent to trade at 50,115; while the broader NSE Nifty was trading 204 points or 1.36 per cent lower at 14,827.
SBI, Axis Bank, M&M, Bajaj Finserv, Bajaj Auto and Bajaj Finance were the top losers in the sensex pack falling as much as 2.18 per cent.
PowerGrid and Tech Mahindra were the only two shares trading in green.
On the NSE platform, sub-indices Nifty Media, Bank and Private Bank fell up to 2.53 per cent.
Banking stocks plunged amidst reports that operations across the country could be impacted as United Forum of Bank Unions (UFBU) called for a two-day nationwide strike.
The strike has been called to protest against the proposed privatisation of two state-owned lenders.
Services such as deposits and withdrawal at branches, cheque clearance and loan approvals could be affected due to the strike.
Meanwhile, broader global markets were trading higher, as investors bet on a faster economic recovery after the signing of a $1.9 trillion US stimulus bill into law last week.

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