Mumbai : The Indian equities markets benchmark Sensex fell 202 points on Thursday dragged by heavy selling pressure in HDFC, Reliance Industries and Titan.
The 30 stock S&P BSE Sensex was trading 202.9 points or 0.34 per cent down at 59,407.51 points at 12.02 pm, against its previous day’s close at 59,610.41 points.
Earlier, the Sensex opened in the negative at 59,402.61 points and slumped to a low of 59,120.06 points in the intra-day.
This is the third straight day of loss in the benchmark index. The Sensex had lost 566.09 points or 0.94 per cent on Wednesday.
HDFC and HDFC Bank fell sharply for the third straight day after the announcement of merger deals. HDFC fell 1.82 per cent to Rs 2490.25. HDFC Bank was trading 1.06 per cent down at Rs 1534.35.
The share price of HDFC Bank and HDFC had surged by around 10 per cent on Monday shortly after the merger deals were announced. However, in the last three days, these stocks have lost a major part of the gains made on the day when merger deals were announced.
The broader Nifty 50 of the National Stock Exchange was trading 51 points or 0.29 per cent down at 17,756.65 points.
The Nifty had lost 149.75 points or 0.83 per cent on Wednesday.
Titan slumped 2.37 per cent to Rs 2481. Wipro slipped 1.52 per cent to Rs 584.55. L&T slumped 1.24 per cent to Rs 1829.
The index heavyweight Reliance Industries Limited (RIL) was trading 1.16 per cent down at Rs 2588.85. TCS fell 1.01 per cent to Rs 3718.05.
Axis Bank surged 2.63 per cent to Rs 793.95. ICICI Bank rose 1.90 per cent to Rs 754.85. NTPC, IndusInd Bank, Dr Reddy’s Laboratories and State Bank of India were among the major Sensex gainers.