Sensex drops 975 points to open at 53,232; Nifty starts session at 15,977


Sensex on Thursday dropped 975 points to open at 53,232; Nifty started session at 15,977. Yesterday, the equity benchmarks surrendered early gains to close with modest losses, snapping their two-day winning streak. The rupee plunged to its fresh lifetime low against the dollar, weighed by persistent foreign fund outflows and a spurt in crude oil prices, which also dampened sentiment, traders said on Wednesday.

The 30-share BSE Sensex soared in opening trade yesterday, before succumbing to bouts of volatility in the afternoon session. It finally settled 109.94 points or 0.20 per cent lower at 54,208.53. On similar lines, the broader NSE Nifty dipped 19 points or 0.12 per cent to finish at 16,240.30 yesterday.

PowerGrid was the biggest laggard in the Sensex pack yesterday, slumping 4.55 per cent, followed by Tech Mahindra, SBI, L&T, Bajaj Finserv, Bharti Airtel, NTPC and Wipro. In contrast, HUL, UltraTech Cement, Asian Paints, Sun Pharma, ITC and Axis Bank were among the gainers, advancing up to 2.02 per cent.

(With inputs from ANI)

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