Live Markets: Stocks extended losses for the fifth session on Monday, as investors took a cautious stance ahead of a US Federal Reserve meet on Tuesday. The BSE Sensex fell over 500 points during the day, hitting the day’s low of 36239.57 points after opening at 36924.72 over previous day’s close of 36841.60 points. The benchmark indices had plunged over 3 percent on Friday as housing finance stocks witnessed heavy selling on worries over weak balance sheets. Nifty also joined the market mayhem and fell under 11000 mark.
Notably, among the worst affected were auto stocks including Mahindra and Mahindra, Maruti Suzuki. Others to witness a sell-off were Tata Steel and IndusInd Bank. In early morning trade, Bharti Airtel felt the heat and was joined by banking stocks including Kotak Bank, ICICI Bank, Yes Bank and Axis Bank. However, things were about to go from bad to worse. Check latest updates:
Sensex freefalls 600 points, Nifty below 11,000, but IT stocks up
Bloodbath in the stock market is continuing, as Sensex saw a 600 points fall during the day to hit intra-day low of 36,239.57 points on Monday afternoon. The Nifty 50 breached the 11000 mark,and was at 10,975.15 points at 1:27 pm. IT stocks TCS, Infosys, HCL Technologies, and KPIT, among others rose significantly, as the rupee touches new low of 72.49 against dollar. TCS share rose over 3 percent on the BSE.