Sensex slumps 449 points; banking, financial stocks dip

Mumbai (Maharashtra): The Indian equities markets’ key indices were trading sharply down for the fourth straight session on Monday with benchmark Sensex losing 449 points dragged by heavy selling pressure in banking and financial stocks.

The 30 stock S&P BSE Sensex was trading 449.38 points or 0.78 per cent down at 56,912.82 points at 12.04 pm, against its previous day’s close at 57,362.20 points.

Earlier, the Sensex started the day on a positive note at 57,472.72 points. However, it came under selling pressure soon after the opening of the trade. The Sensex slumped to a low of 56,825.09 points in the intra-day.

The Sensex is trading in the red fourth straight day. The Sensex had lost 233.48 points or 0.41 per cent on Friday.

The broader Nifty 50 of the National Stock Exchange was trading 135.15 points or 0.79 per cent down at 17,017.85 points against its previous session’s close at 17,153 points. The Nifty had lost 69.75 points or 0.4 per cent on Friday.

There was heavy selling pressure in banking and financial stocks. HDFC slumped 2.82 per cent to Rs 2239.30. HDFC Bank dipped 1.68 per cent to Rs 1407.75. Kotak Bank fell 1.40 per cent to Rs 1698. State Bank of India was trading 0.93 per cent down at Rs 485.90

Dr Reddy’s Laboratories, Nestle India, Mahindra & Mahindra, HCL Technologies, Titan and L&T were among the major Sensex losers.