The Indian stock markets' benchmark Sensex closed 365 points down in a volatile session on Monday dragged by a nearly 4 per cent slump in the index heavyweight Reliance Industries.
The 30 stock S&P BSE Sensex dipped 364.91 points or 0.67 per cent to close at 54,470.67 points against its previous session's close at 54,835.58 points.
The Sensex witnessed volatile trading. The Sensex started the day with deep cuts at 54,188.21 points and slumped to a low of 53,918.02 points in the early morning trade. The index recovered part of the losses later in the day rising to a high of 54,795.47 points in the intra-day.
This is the second consecutive day of slump in the benchmark Sensex. The index had lost 866.65 points or 1.56 per cent on Friday, the previous trading session.
The broader Nifty 50 of the National Stock Exchange slumped 109.40 points or 0.67 per cent to 16,301.85 points against its previous session's close at 16,411.25 points.
The Nifty 50 started the day with deep cut at 16,227.70 points and slumped to a low of 16,142.10 points in the early morning trade. The Nifty later recovered part of the losses and rose to a high of 16,403.70 points in the intra-day.
The Nifty had lost 271.40 points or 1.63 per cent on Friday.
Reliance Industries Limited was the biggest Sensex loser. The scrip slumped 3.97 per cent to Rs 2517.15. Reliance Industries has slumped after announcing the financial results for the fourth quarter of the year ended March 2022.
Reliance Industries Limited on Friday reported a consolidated net profit of Rs 16,203 crore January-March 2022 quarter, registering a year-on-year growth of 22.5 per cent. The company's consolidated net profit for the year ended March 2022 rose to Rs 67,845 crore ($9.0 billion), posting year-on-year growth of 26.2 per cent.
IndusInd Bank dipped 2.97 per cent to Rs 889.40. Nestle India slipped 2.88 per cent to Rs 16512.70. Tata Steel dipped 2.48 per cent to Rs 1252.40. Other major Sensex losers included Tech Mahindra, State Bank of India, Hindustan Unilever, ITC and Axis Bank.
Thirteen of the 30 scrips that are part of the Sensex closed in the positive. Power Grid Corporation rose 2.83 per cent to Rs 245. HCL Technologies soared 2.44 per cent to Rs 1075.75. Infosys rose 1.73 per cent to Rs 1570.20. Maruti Suzuki rose 1.32 per cent to Rs 7373.75. Bajaj Finserv, HDFC, Bajaj Finance, Ultra Tech Cement and TCS were among the major Sensex gainers.
( With inputs from ANI )
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