Sensex Slumps for 2nd Day; Closes 185 Points Down at 55,381.17 in Volatile Session

Mumbai, June 1: The Indian stock markets' key indices slumped for the second straight day on Wednesday with the benchmark Sensex closing 185 points down in a volatile session. The 30 stock S&P BSE Sensex slumped 185.24 points or 0.33 per cent to 55,381.17 points against its previous day's close at 55,566.41 points.

The markets witnessed volatile trading. The Sensex started the day in the positive at 55,588.27 points and rose to a high of 55,791.49 points in the morning session. The Sensex slipped into the red within an hour of the market opening. However, it again bounced back. The index came under heavy selling pressure towards the end of the trading session. The index slumped to a low of 55,091.43 points in the intra-day. Sensex Sharply Declines by 970 Points in Early Trade Due to Rising Inflation.

This is the second consecutive day of decline in the benchmark index. The Sensex had lost 359.33 points or 0.64 per cent on Tuesday. The broader Nifty 50 of the National Stock Exchange fell 61.80 points or 0.37 per cent to 16,522.75 points against its previous day's close at 16,584.55 points.

The Nifty had lost 76.85 points or 0.46 per cent on Tuesday. Nestle India slumped 2.99 per cent to Rs 17238.50. Tech Mahindra dipped 2.86 per cent to Rs 1147.05. Bajaj Finserv slipped 2.63 per cent to Rs 12575. Sun Pharma dipped 2.40 per cent to Rs 839.80.

HCL Technologies, Hindustan Unilever, Power Grid Corporation, UltraTech Cement, Infosys and Wipro were among the major Sensex losers. Only 10 of the 30 scrips that are part of the Sensex closed in the positive.

Mahindra & Mahindra rose 1.32 per cent to Rs 1047.50. HDFC rose 0.94 per cent to Rs 2328.85. Kotak Bank, Tata Steel, HDFC Bank, ITC, NTPC and ICICI Bank were among the major Sensex gainers.

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