Mumbai, July 26: The Indian stock markets’ key indices slumped by around one per cent on Tuesday dragged by heavy selling pressure in IT and banking stocks ahead of the first quarter earnings report by several large-cap companies and announcement of the US Federal Reserve’s monetary policy decision on interest rates.
The 30 stock S&P BSE Sensex slumped 497.73 points or 0.89 per cent to 55,268.49 points against its previous day’s close at 55,766.22 points.
Earlier, the Sensex started the day in the positive at 55,834.38 points but soon slipped into negative. It slipped to a low of 55,203.43 points in the intra-day.
This is the second consecutive day of the slump in the benchmark index. The Sensex had lost 306.01 points or 0.55 per cent on Monday.
The broader Nifty 50 of the National Stock Exchange fell 147.15 points or 0.88 per cent to 16,483.85 points against its previous day’s close at 16,631.00 points.
The Nifty 50 had lost 88.45 points or 0.53 per cent on Monday.
There was heavy selling pressure in IT stocks. Infosys tumbled 3.40 per cent to Rs 1451.80. Wipro dipped 2.28 per cent to Rs 405.20. HCL Technologies slipped 1.74 per cent to Rs 914.15. Tech Mahindra dipped 1.68 per cent to Rs 999.50.
The country’s largest software exporter Tata Consultancy Services (TCS) fell 1.62 per cent to Rs 3115.85.
