MUMBAI: The Indian stock market’s key indices, Sensex and Nifty, slumped by nearly 2 per cent on Monday, dragged by broad-based selling tracking weakness in the global equities.
The 30 stock S&P BSE Sensex closed 953.70 points down at 57,145.22 points against its previous session’s close at 58,098.92 points. Earlier, the Sensex started the day deep in the red at 57,525.03 points and slumped to a low of 57,038.24 points in the intra-day. The index closed with deep cuts for the fourth consecutive session. The Sensex had slumped by 1,020.80 points on Friday, the previous trading session.
The broader Nifty 50 of the National Stock Exchange slumped 311.05 points to 17,016.30 points against its previous session’s close at 17,327.35 points. It slumped for the fourth consecutive trading session. The Nifty had lost 302.45 points on Friday.
The stock markets have slumped across the world after the US Federal Reserve, on September 21, announced a 75 basis points increase in policy interest rate.
There was broad-based selling on the bourse on Monday. Maruti Suzuki crashed 5.49 per cent to Rs 8,830.60, Mahindra & Mahindra slumped 2.86 per cent to Rs 1,235 and Tata Steel slumped 4.22 per cent to Rs 99.85.
The index heavyweight Reliance Industries Ltd dipped 2.54 per cent to Rs 2,377.50. ITC slumped 3.96 per cent to Rs 332.55.
Bajaj Finance, Axis Bank, NTPC, ICICI Bank, Power Grid Corporation, IndusInd Bank and Kotak Bank were among the major Sensex losers.
Major IT stocks closed in the positive. Infosys rose 1.06 per cent to Rs 1,379.75, HCL Technologies jumped 1.28 per cent to Rs 906.90 while Tata Consultancy Services closed 0.40 per cent higher at Rs 2,994.75. Only seven of the 30 scrips that are part of the benchmark Sensex closed in the positive. (ANI)