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    Closing Bell: Sensex plunges 535 points, Nifty ends Jan series below 13,850; IT stocks slip

    Closing Bell: Sensex plunges 535 points, Nifty ends Jan series below 13,850; IT stocks slip

    Closing Bell: Sensex plunges 535 points, Nifty ends Jan series below 13,850; IT stocks slip
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    By CNBCTV18.com  IST (Updated)

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    Indian indices ended nearly a percent lower on Thursday, extending losses for the fifth consecutive session with Nifty falling below 13,880 dragged mainly by losses in the IT and financial stocks.

    Indian indices ended nearly a percent lower on Thursday, extending losses for the fifth consecutive session with Nifty falling below 13,880 dragged mainly by losses in the IT and financial stocks.
    The Sensex ended 535.57 points or 1.13 percent lower at 46,874.36, while the Nifty declined 149.95 points or 1.07 percent to close at 13,817.55.
    Broader markets, meanwhile, reeled under pressure with Nifty Midcap index falling 0.59 percent and smallcap index declining 0.69 percent.
    On the Nifty50 index, Axis Bank, SBI, IOC, BPCL, and GAIL were the top gainers while Hindustan Unilever, Maruti, Wipro, HDFC Bank, Powergrid led the losses.
    All the sectoral indices, barring Nifty Private Bank ended in the red for the day. The Nifty IT and Nifty Realty fell the most over 2 percent each, followed by Nifty PSU Bank, Nifty FMCG and Nifty Auto.
    Shares of Hindustan Unilever (HUL) ended over 3 percent lower after the company reported its earnings for the quarter ended December 2020, missing estimates. While the company's revenues have improved, profit margins have been a point of worry.
    On the global front, shares wiped out their gains in Europe for the year early on Thursday, soured by a sell-off on Wall Street, no end in sight to pandemic lockdowns and a squeeze in short positions. The pan-European STOXX benchmark was down 1.8 percent at 395.77 points, its lowest since December. 
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