The Indian equities markets key indices Sensex and Nifty crashed by around 3 per cent on Monday wiping out nearly Rs 10 lakh crore of investors’ wealth.
The benchmark Sensex slumped 1732.75 points or 2.94 per cent to 57,413.94 points at around 2.10 pm against its previous session’s close at 59,037.18 points. The Nifty 50 of the National Stock Exchange tumbled 513.40 points or 2.91 per cent to 17,103.75 points against its previous session’s close at 17,617.15 points.
There has been broad-based selling pressure. All the Sensex scrips were trading in the red.
Out of the 30 scrips that are part of the Sensex 25 were trading with over 2 per cent of loss in the afternoon session.
Bajaj Finance crashed 7 per cent to Rs 6858. Tata Steel dipped 5.81 per cent to Rs 1101.15.
IT stocks were under heavy selling pressure. Tech Mahindra crashed 5.34 per cent to Rs 1508.95. Wipro tumbled 5.77 per cent to Rs 570.30. HCL Technologies slumped 4.65 per cent to Rs 1113.60 and Infosys slumped 2.99 per cent to Rs 1732.90.
The index heavyweight Reliance Industries Limited slumped 3.94 per cent to Rs 2380.40. This is the first trading session after the company announced its financial results for the third quarter of the current financial year.
Titan 5.40 per cent down at Rs 2392.20; Bajaj Finserv 4.60 per cent down at Rs 15581.25; Asian Paints 3.73 per cent down at Rs 3152.55; Kotak Bank 3.70 per cent down at Rs 1822.85 were among the major Sensex losers.
(With ANI inputs)