Mumbai, May 11 -- Stock markets fell for the third day running on Monday, with the benchmark Sensex tumbling 1,313 points amid rising crude oil prices after the US and Iran failed to reach a peace deal to end the war in West Asia.
The 30-share BSE Sensex tanked 1,312.91 points, or 1.70 per cent, to settle at 76,015.28.
The 50-share NSE Nifty dropped 360.30 points or 1.49 per cent to end at 23,815.85. In three sessions since Thursday, Nifty dropped over 2 per cent or 515 points, while Sensex has fallen by nearly 1,950 points or 2.5 per cent.
Titan, a leading jewellery and fashion accessories company, was the biggest loser among Sensex companies, dropping by nearly 7 per cent. InterGlobe Aviation, SBI, Bharti Airtel, Eternal and Reliance Industries were among the major laggards.
Sun Pharma, Hindustan Unilever, Adani Ports, Kotak Mahindra Bank, Axis Bank and ICICI Bank were the winners.
Brent crude, the global oil benchmark, traded 2.23 per cent higher at $103.5 per barrel.
Jewellery stocks faced heavy selling pressure, with Sky Gold and Senco Gold falling over 12 per cent intra-day before closing lower by over 6 per cent. Senco Gold closed 7.8 per cent lower after falling 10 per cent in the day trade.
The BSE MidCap Select index tanked 1.09 per cent and BSE SmallCap Select index declined 0.44 per cent.
Sectorally, Consumer Durables index tumbled 3.76 per cent, Realty (2.74 per cent), MidSmall Private Banks Quality Tilt (2.60 per cent), BSE PSU Bank (2.28 per cent), Consumer Discretionary (2.14 per cent) and Power (2.13 per cent). BSE Healthcare and Hospitals were the winners. A total of 2,892 stocks declined, while 1,457 advanced and 189 remained unchanged on the BSE.
FIIs offloaded equities worth Rs 4,110.60 crore on Friday, according to exchange data.
On Friday, the Sensex tanked 516.33 points or 0.66 per cent to settle at 77,328.19. The Nifty dropped 150.50 points or 0.62 per cent to end at 24,176.15.
Published by HT Digital Content Services with permission from Millennium Post.