Sensex dips 773 points; IT, banking stocks slump

Mumbai (Maharashtra) [India], February 11 (ANI): The Indian equities markets’ key indices, Sensex and Nifty, closed over 1.3 per cent lower on Friday due to heavy selling pressure in IT and banking stocks.
The 30 stock S&P BSE Sensex closed at 58,152.92 points, which is 773.11 points or 1.31 per cent lower from its previous day’s close at 58,926.03 points.
Earlier the Sensex opened sharply down at 58,447.15 points and slumped to a low of 57,914.10 points.
The broader Nifty 50 of the National Stock Exchange closed 231.10 points or 1.31 per cent lower at 17,374.75 points.
There was heavy selling pressure in IT, infra and banking stocks.
Tech Mahindra slumped 2.94 per cent to Rs 1424.35. Infosys slipped 2.71 per cent to Rs 1721. HCL Technologies dipped 2.16 per cent to Rs 1164.40. Wipro fell 2.07 per cent to Rs 561.65 and TCS closed 2 per cent down at Rs 3695.60.
Among the banking stocks State Bank of India was the biggest loser with over two per cent of slump. SBI dipped 2.06 per cent to Rs 529.30. Kotak Bank fell 2.04 per cent to Rs 1828.95. ICICI Bank slipped 1.76 per cent to Rs 791.05.
UltraTech Cement 2.16 per cent down at Rs 7310; HDFC 2.01 per cent down at Rs 2426.60; Power Grid Corporation 1.98 per cent down at Rs 207.75 and Titan 1.97 per cent down at Rs 2442.15 were among the major Sensex losers.
Only five of 30 scrips that are part of the Sensex closed in the positive. IndusInd Bank rose 0.94 per cent to Rs 981.95. Tata Steel rose 0.52 per cent to Rs 1254.75. NTPC, Mahindra & Mahindra, and ITC also closed in the positive. (ANI)