Sensex dips 411 points; IT, FMCG, infra stocks slump

ANI
11 May 2022, 13:25 GMT+10

Mumbai (Maharashtra) [India], May 11 (ANI): The Indian stock markets' key indices, Sensex and Nifty, were trading in the red for the fourth straight session on Wednesday dragged by selling pressure in IT, FMCG and infra stocks.

The 30 stock SP BSE Sensex was trading 411.05 points or 0.76 per cent down at 53,953.80 points at 12.30 pm, against its previous day's close at 54,364.85 points.

This is the fourth straight day of slump in the benchmark index. The Sensex had lost 105.82 points or 0.19 per cent on Tuesday.

The broader Nifty 50 of the National Stock Exchange was trading 116.85 points or 0.72 per cent down at 16,123.20 points against its previous day's close at 16,240.05 points.

There was heavy selling pressure in IT, FMCG, infra and power stocks.

Tata Steel slumped for the second straight day. The scrip was trading 2.39 per cent down at Rs 1137.50. Tata Steel had slumped 6.95 per cent on Tuesday.

The index heavyweight Reliance Industries was trading 1.06 per cent down at Rs 2447. The scrip had lost 1.74 per cent on Tuesday.

Other major Sensex losers included Bajaj Finance, NTPC, LT, Hindustan Unilever, Infosys, Wipro, Bajaj Finserv and ITC.

Only five of the 30 scrips that are part of the Sensex were trading in the positive. Kotak Bank was trading 0.94 per cent higher at Rs 1813.35. Bharti Airtel, Axis Bank, ICICI Bank and HDFC were the other Sensex gainers. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Broadcast Communications.

More Information

null in null

Business

Section

WK Kellogg sold to Ferrero as food giants chase shelf power

BATTLE CREEK, Michigan: In a major consolidation of iconic food brands, WK Kellogg has agreed to be acquired by the owner of Ferrero...

Filmmaker joins biotech effort to bring back extinct giant bird

WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...

India seeks WTO nod for retaliatory tariffs on US

NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...

AI boom propels Nvidia to historic market cap milestone

SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...

AI saves $500 million for Microsoft as layoffs reshape strategy

REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...

FTC’s rule to ease subscription cancellations struck down by court

WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...

Sectors - Broadcasting

Section