Stock markets tumble in early trade dragged by HDFC Bank, spike in crude oil prices
Mumbai, Jul 20 (PTI) Benchmark indices Sensex and Nifty tumbled in early trade on Monday, dragged by heavy selling in blue-chip HDFC Bank and a sharp spike in crude oil prices due to the ongoing tensions between the US and Iran. The 30-share BSE Sensex tanked 523.22 points to 77,628.23 in early trade. The 50-share NSE Nifty declined 134.10 points to 24,198.25. From the Sensex pack, Axis Bank and HDFC Bank declined nearly 5 per cent after announcing their quarterly earnings over the weekend. “HDFC Bank has disappointed, particularly on the NIM front,” VK Vijayakumar, Chief Investment Strategist, Geojit Investments