The key indexes in the Indian stock market fell for the third day in a row on Monday, with the benchmark Sensex shedding 628 points due to severe selling pressure in pharma, infra, IT, and banking and finance firms.
At 12.30 p.m., the 30 stock S&P BSE Sensex was trading at 57,947.45 points, down 695 points or 1.07 percent from its previous session's finish of 58,644.82 points. For the third day in a row, the Nifty 50 index of the National Stock Exchange was in the red. At 17,315, the Nifty was down 200 points. In the morning trade, the Sensex opened in the red at 58,549.67 points and fell to a low of 57,953.89 points.
In banking and financial stocks, there was a lot of selling pressure. The stock of Bajaj Finance fell 2.66 percent to Rs 6965.25. The stock of Bajaj Finserv fell 2.36 percent to Rs 15818.90. The stock of HDFC Bank fell 2.43 percent to Rs 1487.20. ICICI Bank was down 1.76 percent to Rs 790.80, while HDFC Bank was down 1.89 percent to Rs 2455.45.
The stock of L&T fell 2.67 percent to Rs 1896. Dr Reddy's Laboratories was down 1.98 percent at Rs 4264, Infosys was down 1.82 percent at Rs 1709.35, Titan was down 1.73 percent at Rs 2427.90, Kotak Bank was down 1.71 percent at Rs 1851.80, and IndusInd Bank was down 1.67 percent at Rs 939.90.
Tata Steel rose 2.44 percent to Rs 1204.90 per share. After reporting strong third-quarter earnings, SBNI rose 2.60 percent to Rs 544. Positive trading was also seen in Power Grid Corporation, NTPC, Tech Mahindra, and Reliance Industries.
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