Closing Bell: Bloodbath on D-Street! Sensex tanks 1100 points, slips below 60k; Nifty down nearly 2%

The Indian stock market on Thursday witnessed a bloodbath with Sensex falling over 1100 points and Nifty closing below 17900-level at the market close. The decline was mainly led by banking stocks as Nifty Bank slipped over 1300 points below 39550-level at the close.

Even broader markets weren’t spared by the selling spree as Nifty Mid and Small-cap each slipped by around 2 per cent at the market close, the fall was led by realty and metal stocks.

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The BSE Sensex cracked 1151 points or 1.88 per cent at 59,991.95; while Nifty50 plunged 354 points or 1.94 per cent to 17,857. Even the mid-cap index followed the benchmarks’ footsteps to close down 611 points or 1.96 per cent to the 30,514 level at the market close today.

As many as 6 stocks advanced and 44 declined on the Nifty50 index at the market close today. Adani Ports slumped most around 7.5 per cent, followed by ITC down 5.5 per cent and ONGC, Kotak Bank each down over 4 per cent at the market close today.

Heavyweights such as ICICI Bank, Coal India, Axis Bank, Cipla, Tata Motors, HDFC Bank each down between 3-4 per cent, while SBI, Titan, NTPC, Hindalco, Tech Mahindra, JSW Steel, Eicher Motor, Wipro, Tata Steel, Power Grid, and HCL Tech each down between 2-3 per cent at the close today.

In an otherwise negative market, IndusInd Bank shine being the only gainer to end above 2.5 per cent, followed by L&T, UltraTech Cement, Asian Paints each up over 1 per cent at the close today.

All sectors ended in the red today at the market close, with the Metal index plummeting most around 3.5 per cent followed by Nifty Bank and Realty each down over 3 per cent. Similarly, Pharma, Media, Financial service also contributed most to the markets decline.