Sensex plunges 900 points in broad-based selling

New Delhi, May 3 BSE Sensex plunged 900 points on Friday, amid a broad-based selloff.

Sensex is trading at 73,671 points went down by 939 points. Sensex is now below the 74k mark.

27 out of 30 Sensex stocks were trading in the red. Most of the sectoral indices were in the red. The technology stocks and realty index are down by more than 1 per cent.

Only the SME IPO index is zooming, up by 2.3 per cent in a very weak market.

As many as 62 per cent of the stocks on BSE are declining while only 34 per cent are advancing.

Among the Sensex stocks, Bharti Airtel, Reliance Industries, Maruti, L&T are down 2 per cent.

Nestle India, Asian Paints, HCL Tech, JSW Steel, IndusInd Bank, TCS, Tech Mahindra, Tata Motors, Kotak Mahindra Bank, Titan, HDFC Bank are down more than 1 per cent.

V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services said that RBI lifting restrictions on some of Bajaj Finance’s products is highly positive for the stock. Short covering in the stock has the potential to trigger a surge in the stock. Bank Nifty has further room to move up. Delivery-based buying in this segment is likely to continue.

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