Indian stocks tumble for 3rd straight day; Sensex dips 634 points

Mumbai: The Indian equities markets key indices tumbled for the third straight day on Thursday dragged by heavy selling pressure in IT, financial and energy stocks.

The benchmark Sensex has lost 1,844 points in the last three sessions, while Nifty 50 has slumped 552 points. Negative global cues and a sharp rise in crude oil prices in the international markets have dampened investors’ sentiments.

The 30 stock S&P BSE Sensex of the Bombay Stock Exchange closed at 59,464.62 points, which is 634.20 points or 1.06 per cent down from its previous day’s close at 60,098.82 points.

The Sensex started the Thursday trade marginally down at 60,045.48 points, which also remained the highest level for the day. The index tumbled to a low of 59,068.31 points in the intra-day.

The index has closed sharply down for the third straight day. The Sensex had lost 656 points and 554 points in the previous two sessions, respectively.

The broader Nifty 50 of the National Stock Exchange closed at 17,757 points, which is 1.01 per cent or 181.40 points down from its previous day’s close at 17,938.40 points.

The Nifty slumped to a low of 17,648.45 points in the intra-day trade. The Nifty has lost 552 points in the last three sessions.

IT stocks witnessed heavy selling pressure for the third straight day. Infosys tumbled 2.33 per cent to Rs 1824.15. TCS slumped 2.25 per cent to Rs 3827.85. HCL Technologies dipped 1.97 per cent to Rs 1175.55.

Bajaj Finserv tumbled 4.57 per cent to Rs 17260.30. Sun Pharma 2.20 per cent down at Rs 819.65; Hindustan Unilever 2.13 per cent down at Rs 2261.60; Dr Reddy’s Laboratories 1.92 per cent down at Rs 4599.35; HDFC 1.90 per cent down at Rs 2568.85 and Reliance Industries 1.69 per cent down at Rs 2478.80 were among the major Sensex losers.

Only seven of the 30 scrips that are part of the Sensex close in the positive. Power Grid Corporation surged 4.86 per cent to Rs 214.60.

Bharti Airtel 1.60 per cent higher at Rs 715.30; Asian Paints 0.81 per cent higher at Rs 3307.70; Maruti Suzuki 0.35 per cent higher at Rs 8036.35 and UltraTech Cement 0.28 per cent higher at Rs 7452.60 were among the major Sensex gainers.