The Indian equities markets were under heavy selling pressure for the fourth consecutive day on Friday with benchmark Sensex slumping 593 points.
After losing 1,844 points in the previous three sessions, the Sensex opened the trading on Friday over 400 points down at 59,039.37 points and tumbled to a low of 58,683.01 points in the early morning trade.
The 30 stock S&P BSE Sensex of the Bombay Stock Exchange was trading at 58,871.22 points at 10.53 am, which is 593.4 points or 1.00 per cent down from its previous day's close at 59,464.62 points.
The benchmark Sensex had lost 634.20 points or 1.06 per cent on Thursday.
The broader Nifty 50 of the National Stock Exchange was trading at 17,568.65 points, which is 188.35 points or 1.06 per cent lower from its previous day's close at 17,757 points.
There was heavy selling pressure in IT, metal, financial and banking stocks.
Bajaj Finserv tumbled 4.20 per cent to Rs 16,535.45. Tech Mahindra tumbled 3.44 per cent to Rs 1610.80. Tata Steel slumped 2.19 per cent to Rs 1172.40.
IndusInd Bank 2.50 per cent down at Rs 856.30; Bharti Airtel 2.35 per cent down at Rs 698.50; Axis Bank 2.31 per cent down at Rs 711.95; Dr Reddy's Laboratories 2.03 per cent down at Rs 4502; Titan 1.91 per cent down at Rs 2517.35 and State Bank of India 1.78 per cent down at Rs 502.45 were among the major Sensex losers.
The index heavyweight Reliance Industries, which is scheduled to announce its Q3 results later in the day, was trading 0.32 per cent down at Rs 2470.75.
Hindustan Unilever jumped 2.01 per cent to Rs 2307 a day after the company announced its financial results. Hindustan Unilever on Thursday reported better than expected Rs 2,243 crore net profit for the third quarter of 2021-22, which is 16.76 per cent higher when compared with Rs 1,921 crore profit recorded during the corresponding quarter of last fiscal.
Maruti Suzuki was trading 1.33 per cent higher at Rs 8143.55. Power Grid Corporation 0.65 per cent higher at Rs 216; NTPC 0.22 per cent higher at Rs 135.20; HDFC 0.13 per cent higher at Rs 2572.15 and ITC 0.07 per cent higher at Rs 218.90 were among the major Sensex gainers.
( With inputs from ANI )
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