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Sensex, Nifty slump tracking weakness in global equities
Mumbai: The Indian stock market's key indices, Sensex and Nifty, were trading with a loss of nearly one-and-a-half per cent in the afternoon session on Monday tracking weakness in the global equities.
The 30 stock S&P BSE Sensex was trading 799.67 points or 1.38 per cent down at 57,299.25 points at 1.50 pm 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 Sensex is trading with huge losses for the fourth consecutive session. The Sensex had slumped by 1020.80 points or 1.73 per cent on Friday, the previous trading session.
The broader Nifty 50 of the National Stock Exchange was trading 238.95 points or 1.38 per cent down at 17,088.40 points against its previous session's close at 17,327.35 points.
The Nifty is trading in the red for the fourth consecutive trading session. The Nifty had lost 302.45 points or 1.72 per cent on Friday.
The stock markets have slumped across the world after the US Federal Reserve on 21 September announced 75 basis points increase in policy interest rate.
There was broad-based selling. Maruti Suzuki tumbled 4.41 per cent to Rs 8932. Mahindra & Mahindra slumped 2.83 per cent to Rs 1235.35. Tata Steel slumped 3.84 per cent to Rs 100.25.
The index heavyweight Reliance Industries Limited was trading 2.17 per cent down at Rs 2386.40. ITC slumped 3.39 per cent to Rs 334.50.
Bajaj Finance, Axis Bank, NTPC, ICICI Bank, Power Grid Corporation, IndusInd Bank and Kotak Bank were among the major Sensex losers.
Major IT stocks were trading in the positive. Infosys surged 2.12 per cent to Rs 1394.20. HCL Technologies jumped 1.89 per cent to Rs 912.30. Tata Consultancy Services was trading 1.23 per cent higher at Rs 3019.40. (ANI)