Punjab Newsline | Mumbai
Indian stock markets witnessed sharp losses on Tuesday, May 12, as benchmark indices continued their downward trend for the fourth consecutive trading session.
The BSE Sensex plunged nearly 1,000 points to trade around the 75,000 mark, while the NSE Nifty dropped over 300 points and slipped to the 23,500 level.
The ongoing sell-off has wiped out significant investor wealth over the last four sessions. During this period, the Sensex has fallen around 3,000 points, while the Nifty has declined nearly 800 points.
IT stocks emerged as the biggest losers in today’s trade. Shares of major technology companies including Tata Consultancy Services, Infosys, Tech Mahindra and HCLTech declined by up to 4%.
Apart from IT, sectors such as realty, financial services, media and private banking also remained under pressure, with indices from these segments falling more than 1%.
The weak trend follows Monday’s major market decline, when the Sensex closed 1,313 points lower at 76,015, while the Nifty settled down 360 points at 23,815.
