Sensex slumps by 180 pts as RIL, HDFC Bank decline; snaps 3-day gaining streak

Losses in IT, oil, and banking shares dragged the indices into negative territory; Jio Financial Services fell the most by 4.99 per cent.

Benchmark stock indices Sensex and Nifty closed lower on Thursday after three days of gains dragged mainly by selling in index majors Reliance Industries and HDFC Bank.

The BSE Sensex pared early gains to settle 180.96 points or 0.28 per cent lower at 65,252.34. During the day, it hit a high of 65,913.77 and a low of 65,181.94.

The NSE Nifty declined 57.30 points or 0.29 per cent to settle at 19,386.70 as 35 of its stocks declined while 16 advanced.

Sensex and Nifty opened higher following overnight gains in US stocks and positive cues from Asian markets. However, losses in IT, oil, and banking shares dragged the indices into negative territory.

From the Sensex pack, Jio Financial Services fell the most by 4.99 per cent. Reliance Industries, Power Grid, Larsen & Toubro, JSW Steel, HCL Technologies, NTPC, Tata Steel, Wipro, Tata Consultancy Services and HDFC Bank also declined.

IndusInd Bank, Infosys, UltraTech Cement, ICICI Bank, Nestle and Axis Bank were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the positive territory.

European markets were trading in the green. The US markets ended with gains on Wednesday.

Foreign Institutional Investors (FIIs) turned buyers on Wednesday as they bought equities worth Rs 614.32 crore, according to exchange data.

Global oil benchmark Brent crude climbed 0.10 per cent to $83.29 a barrel.

The BSE benchmark had climbed 213.27 points or 0.33 per cent to settle at 65,433.30 on Wednesday. The Nifty had gained 47.55 points or 0.25 per cent to end at 19,444.