Sensex dips 386 points, Nifty below 17,700; IT, energy stocks slump

FPJ Web DeskUpdated: Monday, April 11, 2022, 12:50 PM IST
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The 30 stock S&P BSE Sensex was trading 386.24 points or 0.65 percent down at 59,122.01 points at 12.45 AM against its previous session's close at 59,447.18 points. /Representative image |

Benchmark Sensex slumped 386 points on Monday dragged by heavy selling pressure in IT, FMCG and energy stocks.

The 30 stock S&P BSE Sensex was trading 386.24 points or 0.65 percent down at 59,122.01 points at 12.45 AM against its previous session's close at 59,447.18 points.

Earlier, the Sensex started the day in the red at 59,333.18 points and slumped to a low of 58,945.08 points in the morning trade. The Sensex had gained 412.23 points or 0.70 percent on Friday after the Reserve Bank of India (RBI) kept key policy rates unchanged in its first monetary policy review of the current financial year.

At 12.47 AM, the broader Nifty 50 of the National Stock Exchange was trading 84.60 points or 0.48 percent down at 17,699.75 points against its previous session's close at 17,784.35 points. The Nifty had gained 144.80 points or 0.82 percent on Friday.

There was heavy selling pressure in IT stocks. HCL Technologies slumped 2.65 percent to Rs 1134.75. Infosys slipped 2.37 percent to Rs 1772. Wipro fell 2.27 percent to Rs 570.55.

L&T 1.58 percent down at Rs 1801.40; Power Grid Corporation 1.18 percent down at Rs 229.85; Hindustan Unilever 1.05 percent down at Rs 2159.90; Titan 0.95 percent down at Rs 2490.50; Asian Paints 0.88 percent down at Rs 3178.55 and HDFC Bank 0.73 percent down at Rs 1504.75 were among the major Sensex losers.

Only 10 of the 30 scrips that are part of the Sensex were trading in the positive. ICICI Bank surged 1.21 percent to Rs 763.45. ITC soared 1.29 percent to Rs 271.25. Kotak Bank rose 0.89 percent to Rs 1800.90. IndusInd Bank rose 0.59 percent to Rs 991.70.

(With ANI inputs)

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