The Indian equities markets key indices, Sensex and Nifty, slumped by around 2 per cent on Monday making investors poorer by around Rs 4 lakh crore as IT and banking stocks crashed after the sectoral heavyweights, Infosys and HDFC Bank, announced disappointing financial results.
The 30 stock S&P BSE Sensex was trading 1238.98 points or 2.12 per cent down at 57,099.95 points at 12.05 pm, against its previous session's close at 58,338.93 points.
After four days of holiday, the Sensex started trading on Monday sharply down at 57,338.58 points and slumped to a low of 57,047.00 points.
This is the fourth consecutive day of slump in the key indices. The Sensex had lost 237.44 points or 0.41 per cent on Wednesday, the last trading day.
The broader Nifty 50 of the National Stock Exchange crashed 328.55 points or 1.88 per cent to 17,147.10 points against its previous session's close at 17,475.65 points.
There was heavy selling pressure in IT stocks. Infosys crashed 7.31 per cent to Rs 1620.75. Tech Mahindra slumped 5.29 per cent to Rs 1335.80. Wipro tanked 3.74 per cent to Rs 538.40. TCS slumped 3.23 per cent to Rs 3543. HCL Technologies was trading 2.93 per cent down at Rs 1092.10.
HDFC Bank dipped 4.40 per cent to Rs 1400.45. HDFC slumped 4.53 per cent to Rs 2269.70. State Bank of India dipped 1.77 per cent to Rs 508.35.
The index heavyweight Reliance Industries was trading 0.71 per cent down at Rs 2534.25.
Only six of the 30 stocks that are part of the Sensex were trading in the positive. NTPC surged 4.13 per cent to Rs 160.25. Tata Steel jumped 2.03 per cent to Rs 1346.05. Hindustan Unilever rose 1.18 per cent to Rs 2177.90. Nestle India, Mahindra & Mahindra and Maruti Suzuki were the other Sensex scrips trading in the positive.
( With inputs from ANI )
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