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Sensex slumps for 2nd straight day; closes 413 points down
Mumbai: The Indian stock market's key indices slumped for the second consecutive day on Thursday with the benchmark Sensex closing 413 points down dragged by heavy selling pressure in IT and infra stocks.
The 30 stock S&P BSE Sensex slumped 412.96 points or 0.68 per cent to 59,934.01 points against its previous day's close at 60,346.97 points. The market witnessed volatile trading. The Sensex started the day in the positive at 60,454.37 points and rose to a high of 60,676.12 points in the morning trade.
The markets witnessed heavy selling pressure in the late morning session dragging the benchmark Sensex below the 60,000 points mark. Selling pressure continued in the afternoon. The index dipped to a low of 59,865.75 points in the intra-day.
The benchmark Sensex has closed in the red for the second consecutive day. The Sensex had lost 224.11 points or 0.37 per cent on Wednesday.
The broader Nifty 50 of the National Stock Exchange closed 126.35 points or 0.7 per cent down at 17,877.40 points against its previous day's close at 18,003.75 points.
The Nifty had lost 66.30 points or 0.37 per cent on Wednesday.
There was heavy selling pressure in IT stocks. Tech Mahindra slumped 3.13 per cent to Rs 1082.45. Infosys dipped 2.91 per cent to Rs 1432.05.
Tata Steel, Bajaj Finserv, Axis Bank, IndusInd Bank, Titan, UltraTech Cement, HCL Technologies and Asian Paints were among the major Sensex losers.
Only seven of the 30 scrips that are part of the benchmark Sensex closed in the positive.
Maruti Suzuki jumped 3.23 per cent to Rs 9245.20. Power Grid Corporation, NTPC, HDFC, L&T, Bharti Airtel and State Bank of India were among the major Sensex gainers. (ANI)