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Stock market slumps, Sensex crashes amid selling pressure

Ten News Network

New Delhi (12/05/2022): The Indian stock markets’ key indices, Sensex and Nifty, slumped by more than two per cent on Thursday dragged by heavy selling pressure in banking and metal stocks as high US inflation data dampened investors’ confidence.

The 30 stock S&P BSE Sensex tumbled 1158.08 points or 2.14 per cent to 52,930.31 points against its previous day’s close at 54,088.39 points.

Earlier, the Sensex started the trade deep in the red at 53,608.35 points and slumped to a low of 52,702.30 points in the intra-day.

This is the fifth straight session of loss in the benchmark Sensex. The Sensex had lost 276.46 points or 0.51 per cent on Wednesday.

The broader Nifty 50 of the National Stock Exchange dipped 359.10 points or 2.22 per cent to 15,808 points against its previous day’s close at 16,167.10 points.

The Nifty had slumped 72.95 points or 0.45 per cent on Wednesday.

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