Sensex Crashes Over 1,000 Points, IT Sector Worst Hit; Here’s What Happened at The Indian Stock Markets Today
The Indian stock markets suffered a huge loss as Sensex plunged by 1,038.55 points or 2.55% and reached a all session low at 39756.19 points. The hugle sell-off the IT sector and financial sector shares caused the crash as Reliance Industries, Infosys, HDFC Bank and TCS together accounted for a loss of more than 400 points on Sensex.
The domestic inventors suffered huge losses as Sensex plunged by 1038.5 points (2.04 percent) and stood at 39756.19, its lowest value in the session at around 3.30 pm. A major selloff of IT and financial sector shares caused this crash at the Indian stock markets on Thursday.
Reliance Industries, Infosys, HDFC Bank and TCS were the biggest losers, together incurring a loss of more than 400 points on Sensex. Infosys shares fell as much as 3.69 percent to Rs 1,094.20 apiece on the BSE, having earlier hit a record high of Rs 1,185 a day after the IT major raised its annual revenue growth forecast as the excessive demand of digital services during the lockdown proved to be beneficial for the company.
On the other hand, Tata Steel, Hero MotoCorp, Hindalco and JSW Steel, up 1.15-2.52 percent each, were the top gainers in the index.
Nifty also, dropping to as low as 11,726.30, was down by 244.75 points from its previous close. HCL Tech, Tech Mahindra, Bharti Airtel, Bajaj Finance and Infosys, trading between 2.60 percent and 3.76 percent lower, were the worst hit among 32 laggards in the Nifty’s basket of 50 shares.