BSE Sensex drops 1306.96 pts

Extending losses for the third straight session, the BSE Sensex on Wednesday plummeted 1306.96 pts, to close at 55,669.93 as heavy selling was seen across the board. Even, the hike in Repo Rate by 0.40 bps to 4.40 pc dampened investor sentiment.

Mumbai, May 4: Extending losses for the third straight session, the BSE Sensex on Wednesday plummeted 1306.96 pts, to close at 55,669.93 as heavy selling was seen across the board. Even, the hike in Repo Rate by 0.40 bps to 4.40 pc dampened investor sentiment. The RBI Governor Shaktikanta Das today said that the monetary policy committee has unanimously voted to increase the repo rate by 40 bps, as the central bank’s stance remains accommodative. The Nifty of National Stock Exchange (NSE) too slipped 391.50 pts to reach 16,677.60. The Sensex opened higher by 149 pts at 57,124.91. It advanced 219 pts to 57,184.21, the day’s high.

Later, it dropped nearly 1474 pts to reach 55,501.60, the day’s low, before closing at 56,669.03, down 1306.96 pts from its previous close. The Sensex registered the day’s high and low at 57,184.21 and 55,501.60 pts respectively. The Nifty recorded the day’s high and low at 17,132.85 and 16,623.95 respectively. Heavy selling in Consumer Durable, Realty, Health Care and Consumer Discretionary Goods and Services kept the market under pressure.

In scrips Titan was a major loser, down 4.47 pc to Rs 2280. Followed by Bajaj Finserv by 4.35 pc to Rs 14300, Bajaj finance by 4.20 pc to Rs 6347. IndusInd Bank by 3.34 pc to Rs 985. And HDFC Bank by 3.14 pc to Rs 1359.10. The gainers were Powergrid by 2.90 pc to Rs 237.91, NTPC by 0.86 pc to Rs 158.85. And Kotak Bank by 0.07 pc to Rs 1775. The Mid Cap declined by 2.63 pc and Small Cap by 2.11 pc. In 30 scrips, three advanced while 27 declined. In Asian Market, Australia fell by 0.30 pc, Hong Kong by 1.10 pc and Japan by 0.11 pc.

(Except for the headline. This story has not been edited by Business Upturn staff and is published from a syndicated feed.)

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