Sensex tumbles 1017 points on selloff in global markets

The 30 stock S&P BSE Sensex slumped 1016.84 points or 1.84 per cent to 54,303.44 points against its previous day's close at 55,320.28 points.

Earlier, Sensex started the day in the negative at 54,760.25 points. Selling pressure intensified in the afternoon dragging the Sensex down to 54,205.99 points in the intra-day.

The Indian equities have slumped tracking selloff in the global peers. Stock markets tumbled across the world tracking the overnight selloff in the American markets. Dow Jones Industrial Average tumbled 1.94 per cent on Thursday. FTSE 100 index slumped 1.32 per cent. Japan's Nikkei index tumbled 1.49 per cent.

The equities markets have been under selling pressure this week. The Sensex has witnessed selling pressure in five out of the last six trading sessions.

Snapping four days of losing run, the Sensex had gained 427.79 points or 0.78 per cent on Thursday.

The broader Nifty 50 of the National Stock Exchange tumbled 276.30 points or 1.68 per cent to 16,201.80 points against its previous day's close at 16,478.10 points. The Nifty slipped to a low of 16,172.60 points in the intra-day.

There was heavy selling pressure in banking and IT stocks.

Kotak Bank slumped 3.96 per cent to Rs 1792.10. Bajaj Finance tumbled 3.90 per cent to Rs 5667.85. HDFC slipped 3.80 per cent to Rs 2179.55.

The index heavyweight Reliance Industries Limited dipped 3.02 per cent to Rs 2714.

Wipro slumped around three per cent. Tech Mahindra dipped 2.51 per cent to Rs 1110.25. Infosys slumped 2.47 per cent to Rs 1477.15. TCS fell 1.79 per cent to Rs 3365.35. HCL Technologies closed 0.82 per cent down at Rs 1020.

Only eight of the 30 scrips that are part of the Sensex closed in the positive.

Asian Paints rose 0.78 per cent to Rs 2708.75. Dr Reddy's Laboratories climbed 0.62 per cent to Rs 4353. UltraTech Cement, Hindustan Unilever, Titan, Maruti Suzuki, Nestle India and NTPC also closed in the positive. (ANI)