Sensex plunges over 700 points, a day after crossing 50,000 mark
Out of 30 stocks in Sensex, 24 scrips ended in the deep red with Axis Bank shares falling the most. It was followed by Asian Paints, State Bank of India (SBI), IndusInd Bank, ICICI Bank and Bajaj Finance.
New Delhi: The equity benchmark Sensex went into a tailspin a day after climbing a historic peak. The benchmark indices tanked around 746 points to end the day below 49,000 points. Steep losses in banking heavyweights dragged Nifty Bank to more than 3 percent.
The 30-share BSE index ended 746.22 points or 1.50 per cent lower at 48,878.54.
Sensex opened the day at 49,594.95, recorded an intra-day high of 49,676.88 and then slipped to 48,894.64 points at the closing bell.
Out of 30 stocks in Sensex, 24 scrips ended in the deep red with Axis Bank shares falling the most. It was followed by Asian Paints, State Bank of India (SBI), IndusInd Bank, ICICI Bank and Bajaj Finance. On the contrary, Bajaj-Auto shares gained the most, rallying over 10 per cent. HUL, UltraTech Cement, Tata Consultancy Services (TCS), Bajaj FInserv and Infosys were other gainers.
NSE Nifty tumbled 218.45 points or 1.5 per cent to 14,371.90. Axis Bank was the top loser in the Sensex pack, shedding over 4%, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance. On the other hand, Bajaj Auto, Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the gainers.
Hours ahead of announcing its financial earnings for the October to December quarter, the shares of Reliance Industries too slipped around 2%. The stock closed 2.38% lower at Rs 2,048.