Sensex Plunges Over 600 Points; Bharti Airtel, Infosys Trade Weak
NDTV
The broader markets are also trading weak, with the BSE Midcap index and BSE Smallcap index shedding around 0.7 per cent each
The benchmark indices have extended their losses in noon trading due to selling pressure in information technology stocks. At 12:45 pm, the BSE Sensex is trading at 59,480.05, lower by 591.65 points or 0.99 per cent and the Nifty is at 17,706.80, down 145.25 points or 0.82 per cent. The broader markets are also trading weak, with the BSE Midcap index and BSE Smallcap index shedding around 0.7 per cent each.
Asian shares are trading mixed as investors were concerned over China Evergrande Group's debt crisis and a widening power shortage in China.
In the currency market, the rupee appreciated 8 paise to 73.75 against the US dollar in early trading, tracking positive domestic equities. At the interbank foreign exchange, the rupee opened at 73.79 against the dollar and edged higher to 73.75 thereafter.
On the stock-specific front, Bharti Airtel has dived nearly 4 per cent to Rs 696 to the losers list on the BSE. Information technology stocks continue to trade weak, with HCL, Infosys and Tech Mahindra losing 1-3 per cent each on the BSE. Bajaj Finance and Bajaj Finserv are the other significant losers in the BSE pack.
