ANI
19 May 2022, 16:57 GMT+10
Mumbai (Maharashtra) [India], May 19 (ANI): The Indian stock markets' key indices, Sensex and Nifty, tumbled by more than 2.5 per cent on Thursday tracking the meltdown in the global equities on fears of a recession in the world economy due to the prolonged Russia-Ukraine conflict.
The 30 stock SP BSE Sensex tumbled 1,416.30 points or 2.61 per cent to 52,792.23 points against its previous day's close at 54,208.53 points.
Tracking overnight selloff in the Wall Street, the Indian equities markets' key indices started the trade on Thursday with massive losses. The Sensex opened sharply down at 53,070.30 points and tumbled to a low of 52,669.51 points in the intra-day. The Sensex had lost 109.94 points or 0.20 per cent on Wednesday.
Thursday's meltdown has led to the erosion of investors' wealth to the tune of Rs 7 lakh crore.
The broader Nifty 50 of the National Stock Exchange tumbled 430.90 points or 2.65 per cent to 15,809.40 points against its previous day's close at 16,240.30 points.
The Nifty had lost 19.00 points or 0.12 per cent on Wednesday.
All the sectoral indices tumbled. IT stocks were the worst hit.
Wipro and HCL Technologies crashed by more than 6 per cent, while Infosys, TCS and Tech Mahindra dipped more than 5 per cent.
Tata Steel slumped 4.86 per cent to Rs 1122.85.
The index heavyweight Reliance Industries Limited closed 2.35 per cent down at Rs 2479.20.
IndusInd Bank, Kotak Bank, MahindraMahindra, Bajaj Finserv and Bharti Airtel were among the major Sensex losers.
Only three of the 30 scrips that are part of the Sensex closed in the positive.
ITC surged 3.43 per cent to Rs 275.65 on better than expected Q4 financial numbers. Hopes that ITC would fare better than its peers in an inflationary scenario also boosted the scrip.
Dr Reddy's Laboratories rose 0.82 per cent to Rs 3940. Power Grid Corporation also closed in the positive. (ANI)Get a daily dose of Colorado Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Colorado Star.
More InformationBEIJING/WASHINGTON, D.C.: In a rare move aimed at easing mounting supply chain pressure, China has issued temporary export licenses...
SYDNEY, Australia: Australia will not ease its strict biosecurity rules during trade talks with the United States, Prime Minister Anthony...
BEIJING, China: A little-known office inside China's Ministry of Commerce has become a powerful chokepoint in the global auto and tech...
CHICAGO, Illinois: McDonald's is bringing back its much-loved Snack Wrap in the U.S. starting July 10. The wrap, which includes chicken,...
New Delhi [India] June 11 (ANI): The decision of the Reserve Bank of India (RBI) to slash the policy rate will boost growth amidst...
Moscow has warned it considers any seizure theft and will retaliate UK Prime Minister Keir Starmer has acknowledged that seizing...
WASHINGTON, D.C.: A boom in U.S. solar energy installations may be running out of steam as shifting federal priorities, new tariffs,...
WARSAW, Poland: Poland held a second round of voting in its presidential election on Sunday, but exit polls show the race is too close...
NEW YORK CITY, New York: Oil prices remained steady on June 9 as investors looked ahead to the outcome of the U.S.-China trade talks...
WASHINGTON, D.C. A public fight between U.S. President Donald Trump and billionaire Elon Musk has taken over social media, especially...
BEIJING/WASHINGTON, D.C.: In a rare move aimed at easing mounting supply chain pressure, China has issued temporary export licenses...
TOKYO, Japan: Japan's hopes for a foothold in commercial lunar exploration suffered a second blow this week after Tokyo-based startup...