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Sensex Sinks 1023 Points with HDFC Bank, Bajaj Finance and L&T Shares Declined

The Indian equities markets benchmark Sensex slumped 1023 points due to heavy selling by foreign institutional investors (FIIs) amid rise in crude oil prices and weakness in global stock markets.

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The 30 stock S&P BSE Sensex slumped 1023.63 points or 1.75 per cent to close at 57,621.19 points, against its previous session’s close at 58,644.82 points. The Sensex dipped to a low of 57,299.05 points in the intra-day.

This is the third consecutive session of loss in the benchmark Sensex. The index had lost 143.20 points and 770.31 points in the previous two sessions, respectively.

The broader Nifty 50 of the National Stock Exchange tanked 302.70 points or 1.73 per cent to 17,213.60 points against its previous session’s close at 17,516.30 points. The Nifty slumped to a low of 17,119.40 points in the intra-day.

There was heavy selling pressure in banking and financial, infra and IT stocks.

HDFC Bank tanked 3.65 per cent to Rs 1468.60. Bajaj Finance tumbled 3.15 per cent to Rs 6930.65. Bajaj Finserv dipped 2.94 per cent to Rs 15725. HDFC slumped 2.93 per cent to Rs 2429.40 and Kotak Bank closed 2.92 per cent down at Rs 1829.10.

L&T slumped 3.20 per cent to Rs 1885.80. Wipro 2.56 per cent down at Rs 557.20; Titan 2.44 per cent down at Rs 2410.35; IndusInd Bank 2.35 per cent down at Rs 933.35; ICICI Bank 2.31 per cent down at Rs 786.35; Hindustan Unilever 2.18 per cent down at Rs 2257.65 and Asian Paints 1.94 per cent down at Rs 3174 were among the major Sensex losers.

Only five of the 30 stocks that are part of the benchmark Sensex closed in the positive. Power Grid Corporation rose 1.88 per cent to Rs 213.65. NTPC rose 0.67 per cent to Rs 135.15. Tata Steel and State Bank of India gained 0.57 per cent each. UltraTech Cement closed 0.32 per cent higher.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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