Sensex plunges over 1,400 points | Top stocks in focus
India Today
Sensex fell by 2.61 per cent or 1,416.30 points to 52,792.23 and the Nifty was down by 2.65 per cent or 430.90 points to 15,809.40.
The share market on Thursday closed in the red after the Sensex and Nifty fell by more than two per cent. Both benchmark equity indexes were hammered by losses in technology and metal stocks, with investors globally dumping riskier assets as soaring inflation stokes fears of an economic slowdown.
The Sensex fell by 2.61 per cent or 1,416.30 points to 52,792.23 and the Nifty was down by 2.65 per cent or 430.90 points to 15,809.40.
The benchmark indexes that were up more than 2 per cent for the week as of Wednesday, erased most of those gains in their second straight session of declines. They have fallen nearly 7 per cent so far this month.
Asian and European shares also tumbled after a brutal selloff on Wednesday on Wall Street that saw the S&P 500 falling the most since June 2020.
All major nifty sub-indexes fell, with the Nifty IT index leading losses, down 5.74 per cent. Earlier in the session, the sub-index dropped to its lowest since June last year.
IT stocks were the top five percentage losers on the Nifty, with Infosys, Wipro, HCL Technologies, Tech Mahindra and Tata Consultancy Services plunging between 5 per cent and 6 per cent.
Nifty's metal index dropped 4.1 per cent led by a 5.2 per cent drop in Steel Authority of India.
