India Indices Bleed As Sensex Sheds 700 Pts, Nifty Bank Tanks 2.3%

  • Stock Market News
India Indices Bleed As Sensex Sheds 700 Pts, Nifty Bank Tanks 2.3%

By Malvika Gurung -- Indian equity benchmark indices sank heavily in the red zone amid weak cues from global peers, along with sharp sell-offs in the stocks of market heavyweights HDFC (NS: HDFC ) and HDFC Bank (NS: HDBK ).

Major indices Nifty50 tanked 1.02% to end Friday’s intraday trade under the 18,100 mark at 18,069, and Sensex crashed 694.96 points or 1.13% to slip under the 61,000 mark.

The domestic market registered its biggest single-day fall on Friday, especially after Dalal Street indices hit their 2023 peak in the previous session.

Read Also: D-Street Bloodbath: Triggers That Dragged Market in Red, Nifty Below 18,100

The market fear barometer India VIX jumped 5.45% to 12.37 levels on Friday, closing the session 4.79% higher at 12.29 levels.

Investors on Dalal Street lost a combined wealth of Rs 1.42 lakh crore in the session on May 5.

Banking and financial pack soured the market mood on Friday, while auto, consumer goods and FMCG stocks provided some support.

Shares of HDFC Bank tanked 6.12% and those of HDFC dived 5.88% in the session today, reflecting as the worst performers or top losers on Nifty and Sensex.

IndusInd Bank (NS: INBK ), Tata Steel (NS: TISC ), Hindalco (NS: HALC ), Kotak Mahindra (NS: KTKM ), Mahindra & Mahindra (NS: MAHM ) and UPL (NS: UPLL ) were among the stocks exerting pressure on the Nifty pack, while heavyweights including Titan (NS: TITN ), Maruti (NS: MRTI ), UltraTech Cement (NS: ULTC ), ITC (NS: ITC ), Nestle (NS: NEST ) and Apollo Hospitals (NS: APLH ) were among the top gainers.

Nifty Private Bank was the worst-performing sectoral index under the Nifty umbrella, tumbling almost 3% on Friday, while Nifty Bank plunged 2.38%.

Key US contracts Dow Futures rose 0.48% and Nasdaq 100 Futures jumped 0.64%.

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  • Sridhar N Rao @Sridhar N Rao
    Pumping over; Dumping started!
    Like 0
  • Rohit Bhor @Rohit Bhor
    What the hell I 💥
    Like 0

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