Sensex plunges 668 points; Reliance, HDFC Bank, Titan dip

Mumbai: The Indian stock market’s benchmark Sensex was trading 668 points down in the afternoon session on Wednesday dragged by heavy selling pressure in heavyweights Reliance Industries and HDFC Bank.

The 30 stock S&P BSE Sensex was trading 668.06 points or 1.17 per cent down at 56,307.93 points at 1.11 pm against its previous session’s close at 56,975.99 points.

Earlier, the Sensex started the day on a positive note at 57,124.91 points and rose to a high of 57,184.21 points in the early morning trade.

However, selling pressure intensified later in the day. The Sensex slumped to a low of 56,151.05 points.
This is the third consecutive session of losses in the Indian equities market’s key indices. The Sensex had lost 84.88 points or 0.15 per cent on Monday, the previous trading day.

The broader Nifty 50 of the National Stock Exchange was trading 195.05 points or 1.14 per cent down at 16,874.05 points against its previous session’s close at 17,069.10 points.

The index heavyweights Reliance Industries and HDFC Bank witnessed heavy selling pressure. Reliance Industries tumbled 2.35 per cent to Rs 2715.20. HDFC Bank dipped 1.63 per cent to Rs 1380.25.
Titan slumped 2.73 per cent to Rs 2321.50. Bajaj Finserv fell 2.40 per cent to Rs 14592.45. Sun Pharma dipped 2.30 per cent to Rs 901.95.

Only seven of the 30 scrips that are part of the benchmark Sensex were trading in the positive. Power Grid Corporation surged 2.18 per cent to Rs 236.30. Kotak Bank, NTPC, Infosys, Wipro, ITC and IndusInd Bank were among the Sensex gainers.