Sensex drops 786 points; realty, IT stocks dip

Mumbai (Maharashtra): The Indian stock market’s benchmark Sensex fell 786.31 points on Friday dragged by heavy selling pressure in the realty and Information Technology stocks.

The 30 stock S&P BSE Sensex was trading 786.31 points or 1.41 percent down at 54,915.92 points at 10:00 am. The broader Nifty 50 of the National Stock Exchange was trading 247.75 points or 1.49 percent down at 16,434.90 points.

Metal firm APL Apollo was trading 3.95 percent down at Rs 962.50. The Steel Authority of India slumped 9.51 percent to Rs 90.80. JSW Steel Limited slipped 2.45 percent to Rs 690.25.

Realty stocks also witnessed selling pressure. Sobha Limited slumped 5.26 percent to Rs 563.35. Lodha Group slipped 3.92 percent to Rs 988.90.

None of the 30 scrips that are part of the benchmark Sensex was trading in the positive today.

ITC Limited, Mahindra and Mahindra, NTPC Limited, and Bharti Airtel were among the major Sensex gainers.