Indian stock market bleeds; Sensex plunges over 383 points

MUMBAI, May 7 : Snubbing the rally in the foreign bourses, India’s stock market plunged nearly 400 points as the 30-share sensex ended at 73511.85 for the day, down 383.69 points from previous close.


Foreign Institutional Investors (FIIs) continued their selling spree as they sold equities in the cash segment to the tune of Rs 2,169 crore yesterday while the Domestic Institutional Investors (DIIs) bought equities worth Rs 781 crore.


FMCG major Hindustan Unilever was the major gainer on Tuesday as the scrip appreciated by over Rs 123 or 5.46 per cent to close at Rs 2,379.40, while the 2-wheeler auto major Bajaj Auto lost nearly Rs 375 or 4.14 per cent to close at Rs 8,677.90.


The Indian market continues to be volatile since last few sessions. Today morning also the market opened on a positive note taking cue from global markets amid hopes of rate cut by the US Government.


The morning positive rally was, however, short lived as the market continued to bleed throughout the day. The National Stock Exchange (NSE) fell 140.20 points to close  at 22,302.50. During the intra-day the BSE sensex crashed 635 points before gaining some ground to end over 383 points.


In 30 scrips, 11 advanced while 19 declined. The losers were, apart from Bajaj Auto, IndusInd bank by 2.92 pc to  Rs 1454.60, Tata Motors by 2.64 pc to  Rs  989 and JSW Steel by 2.41 pc to Rs 858.70. Among the gained, besides HUL, Tech Mahindra was up by 2.53 pc to Rs  1294.25, Nestle India Ltd by 2.03 pc to  Rs  2508 and ITC by 1.55 pc to  Rs  441.35.  (UNI)

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