Sensex Drops Over 250 Points, Nifty Slides Below 11,000 | Read

Domestic stock markets started Monday's session on a weak note, dragged lower by energy shares as crude oil prices spiked. The S&P BSE Sensex index fell as much as 272.2 points to 37,112.79 in early trade, and the broader NSE Nifty benchmark moved to as low as 10,988.85, down 87.05 points from the previous close. Losses in energy, banking and auto shares dragged the markets lower, however gains in information technology and pharmaceutical stocks limited the downside. Analysts awaited the release of wholesale inflation (Wholesale Price Index) data due during market hours for more clarity on the price changes and monetary policy going forward. On Friday, the Sensex and Nifty had ended 0.76 per cent and 0.85 per cent higher, clocking a gain of 1.09 per cent and 1.18 per cent respectively for the holiday-shortened week.