MUMBAI: The Indian stock markets’ key indices, Sensex and Nifty, slumped by around 2 per cent on Friday, dragged by heavy selling pressure in banking, IT, and energy stocks.
The 30 stock S&P BSE Sensex slumped 1,016.84 points to 54,303.44 points against its previous day’s close at 55,320.28 points. Earlier, the Sensex started the day in the negative at 54,760.25 points. Selling pressure intensified in the afternoon dragging it down to 54,205.99 points in the intra-day.
The Indian equities have slumped tracking selloff in the global peers. Stock markets tumbled across the world tracking the overnight selloff in the American markets. The Dow Jones Industrial Average tumbled 1.94 per cent on Thursday. The FTSE 100 index slumped 1.32 per cent. Japan’s Nikkei index tumbled 1.49 per cent.
The equities markets have been under selling pressure this week. The Sensex has witnessed selling pressure in five out of the last six trading sessions. Snapping four days of losing run, the Sensex had gained 427.79 points or 0.78 per cent on Thursday.
The broader Nifty 50 of the National Stock Exchange tumbled 276.30 points to 16,201.80 points against its previous day’s close at 16,478.10 points. The Nifty slipped to a low of 16,172.60 points in the intra-day.
There was heavy selling pressure in banking and IT stocks. Kotak Bank slumped 3.96 per cent to Rs 1,792.10, Bajaj Finance tumbled 3.90 per cent to Rs 5,667.85 while HDFC slipped 3.80 per cent to Rs 2,179.55.
The index heavyweight Reliance Industries Ltd dipped 3.02 per cent to Rs 2,714. Wipro slumped around 3 per cent and Tech Mahindra dipped 2.51 per cent to Rs 1,110.25. Infosys slumped 2.47 per cent to Rs 1,477.15 while TCS fell 1.79 per cent to Rs 3,365.35. HCL Technologies closed 0.82 per cent down at Rs 1,020.
Only eight of the 30 scrips that are part of the Sensex closed in the positive. Asian Paints rose 0.78 per cent to Rs 2,708.75 and Dr Reddy’s Laboratories climbed 0.62 per cent to Rs 4,353. UltraTech Cement, Hindustan Unilever, Titan, Maruti Suzuki, Nestle India and NTPC also closed in the positive. (ANI)