Sensex tumbles 617 points on weak global cues; RIL, Tata Steel slump

The Indian stock markets' key indices, Sensex and Nifty, slumped over one per cent on Monday, dragged by heavy selling pressure in metal, energy and IT stocks as weakness in the global equities dented investors' sentiments.

Tracking weakness in the global markets, the benchmark Sensex started trading on Monday, the first trading day of the week, deep in the red at 56,757.64 points and tumbled to a low of 56,356.87 points in the intra-day.

The 30 stock S&P BSE Sensex closed 617.26 points or 1.08 per cent down at 56,579.89 against its previous session's close at 57,197.15 points.

This is the second consecutive session of sharp loss in the Indian stock markets. The Sensex had slumped 714.53 points or 1.23 per cent on Friday, the previous trading day.

The broader Nifty 50 of the National Stock Exchange tumbled 218 points or 1.27 per cent to 16,953.95 points against its previous session's close at 17,171.95 points.

The Nifty 50 had lost 220.65 points or 1.27 per cent on Friday.

There was heavy selling pressure in metal, energy, IT and FMCG stocks.

Tata Steel tumbled 4.47 per cent to Rs 1220.60. Tech Mahindra slipped 2.76 per cent to Rs 1270.95. NTPC slumped 2.68 per cent to Rs 155.95. Titan dipped 2.34 per cent to Rs 2453.90.

The index heavyweight Reliance Industries slipped 2.31 per cent to Rs 2694.85.

Only eight of the 30 scrips that are part of the Sensex closed in the positive. HDFC Bank rose 0.75 per cent to Rs 1365.55. ICICI Bank climbed 0.73 per cent to Rs 752.80. HDFC rose 0.28 per cent to Rs 2212.55. Kotak Bank, Nestle India, Maruti Suzuki, Bharti Airtel and Axis Bank also closed in the positive.

( With inputs from ANI )

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