Sensex Slump 416 points, Bank Stock see huge selling

Market-today

Domestic stocks settled Monday’s session with steep losses with the Sensex falling 416 points to close at 41528.91 and the Nifty dropped 127 points to close at 12224.55.

Profit booking took place in heavyweight stocks such as HDFC Bank and Reliance Industries and TCS which pulled the benchmark indices lower.

At intraday level, the Sensex had slipped the 42,500 points mark, falling almost 700 points from the day’s high.

Power Grid Corporation of India, Bharti Airtel, Bharti Infratel, GAIL India and ITC rose by up to 2.96 percent, as major Nifty gainers today. To get more updated Stock Tips and free trading tips visit our offical website.

Conversely, Kotak Mahindra Bank, Zee Entertainment, Indian Oil Corp, Reliance and Coal India were major losers up to 4.78 percent as top Nifty losers.

Among sectoral indices, the Nifty Bank slipped 494 points, down by 1.56 percent. Kotak Mahindra Bank and RBL Bank slipped 4.75 percent each in the Nifty Bank index, followed by Bank of Baroda and PNB, down by 2.90 percent each. However, Federal Bank advanced 2.57 percent, following strong quarterly numbers.

Also, the Nifty PSU Bank, Private Bank, Financial Service, Media, and Metal too slipped between 1.30 to 1.60 percent.

Among IT stocks, JustDial, TCS, HCL Tech, Wipro, NIIT Tech also slipped in today’s session, however, Tech Mahindra and MindTree gained marginally among IT stocks.

Shares of Adani Enterprises, Asian Paints, Berger Paints, Rallis India, Bharti Airtel, Torrent Pharma, Trent, Dr.Reddy’s Labs, and Birla Corporation stocks have hit a new one-year-high on the NSE.

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