Sensex drops 345 points, Nifty slips 119 points

Mumbai: Indian shares dropped on Monday as subdued corporate results dampened market sentiment but the losses were curbed by gains in Zee Entertainment Enterprises.

The S&P BSE Sensex closed 368 points lower at 35,656 while the Nifty 50 was down 119 at 10,661.

Among prominent losers were Adani Ports which dropped over 9 per cent, ICICI Bank and Cipla.

ICICI closed at Rs 344.60 following reports that the CBI transferred the investigating officer in ICICI Bank case as its discreet inquiry suggested his role in leaking information related to searches.

However, Zee Entertainment jumped over 15 per cent to close at Rs 368.50 after reports of a successful meeting with the lenders.

The overall sentiment was damp due to a weak quarterly number by select heavyweight corporates.

Asian stocks ruled higher after US President Donald Trump agreed on Friday to end a 35-day old partial shutdown of the government shutdown.

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