Sensex plunges 1,371 points in early trade

January 17, 2024 10:57

Benchmark equity indices Sensex and Nifty plunged in early trade on Wednesday, dragged down by bank stocks and weak trends from Asian markets.

Extending its previous day's decline, the 30-share BSE Sensex plunged 1,371.23 points to 71,757.54 after a weak beginning. The Nifty tanked 395.35 points to 21,636.95.

Among the Sensex firms, HDFC Bank fell nearly 6 per cent after its December quarter earnings. HDFC Bank on Tuesday reported a 2.65 per cent rise in consolidated net profit of Rs 17,258 crore for the October-December period against Rs 16,811 crore in the preceding September quarter.

Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance were among the other major laggards. Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies, and Tech Mahindra were among the gainers.

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