Indian stock markets plunge for third day in a row; Sensex 516 points lower – The New Indian Express

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MUMBAI: Major indices of Indian stock markets plunged for the third day in a row on Thursday, dragged by heavy selling pressure in IT, financial and energy stocks.

The Bombay Stock Exchange’s 30 shares of S&P BSE Sensex were trading at 59,582.20 points at 11:12 AM, which is 516.62 points or 0.86 percent lower than the previous day’s closing price of 60,098.82 points.

The benchmark Sensex is deep in the red for the third consecutive session. The Sensex had lost 656 points and 554 points respectively in the previous two trading sessions.

The Sensex started trading on Thursday marginally at 60,045.48 points, which also remains the highest level for the day. The index fell to a low of 59,565.94 points.

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The National Stock Exchange’s broader Nifty 50 was trading at 17,839.30 points, which is 0.55 percent or 99.10 points lower than the previous day’s closing at 17,938.40 points.

The Nifty fell to a low of 17,817.65 points in morning trading after opening positively at 17,921.00 points.

IT stocks came under heavy selling pressure for the third day in a row. Infosys fell 1.94 percent to Rs 1831.50. HCL Technologies fell 1.70 percent to Rs 1178.75. TCS fell 1.09 percent to Rs 3,873.

Sensex’s other big losers were: HDFC 2.03 percent lower at Rs 2565.50; Bajaj Finserv down 1.77 percent at Rs 17767; Reliance Industries down 1.67 percent at Rs 2479.35; dr. Reddy Laboratories is 1.19 percent lower at Rs 4633.40 and Sun Pharma 1.10 percent lower at Rs 828.80.

Only 11 of the 30 scrips that make up the Sensex traded in the positive. Power Grid Corporation rose 3.47 percent to Rs 211.75. UltraTech Cement 1.23 percent higher at Rs 7518.65; Tata Steel up 1.16 percent at Rs 1222.80; Maruti Suzuki 1.09 percent higher at Rs 8095.70 and Bharti Airtel 0.76 percent higher at Rs 709.40 were among the top Sensex gainers.