Profit booking in HDFC twins plunges Sensex by nearly 515 points
HDFC Bank slipped 1.94 per cent to Rs 1,576.05. HDFC fell 1.83 per cent to Rs 2,573.95. Both these stocks had gained nearly 10 per cent on Monday.
Mumbai (Maharashtra): Equity indices opened in the red on Wednesday with Sensex plunging by 514.45 points and Nifty down by 139.75 points, dragged by profit booking in HDFC twins after the sharp rally in their prices seen on the day of the announcement of the merger deal.
The HDFC twins are the tops losers on the SENSEX.
The 30 Stock S&P BSE Sensex was down by 514.45 points or 0.85 per cent to 59,662.05 points at 10 am.The broader Nifty 50 of the National Stock Exchange plunged below the 18,000 mark today. It was down by 139.75 points or 0.78 per cent to 17,817.65 points at 10 am.
Housing Development Finance Corporation (HDFC) and HDFC Bank which had led the stock market’s rally on Monday, declined on profit booking. HDFC Bank slipped 1.94 per cent to Rs 1,576.05. HDFC fell 1.83 per cent to Rs 2,573.95. Both these stocks had gained nearly 10 per cent on Monday.