Stock Market
Market in turmoil: Sensex sinks, Nifty slips below 26,000 as selling intensifies
Mumbai/IBNS: Indian equity benchmarks traded under pressure on Monday morning, with the BSE Sensex tanking over 500 points at one stage and the NSE Nifty 50 slipping below the 26,000 mark, media reports said.
Although the Sensex later recovered part of its losses, it remained well below its early gains, while the Nifty continued to trade comfortably below 26,000 around noon.
The Sensex opened the session at an intraday high of 85,250—up more than 200 points from the previous close—but surrendered its gains around 11:30 am. The Nifty, too, climbed past 26,100 in early trade before witnessing a sharp correction.
Adani Ports and Special Economic Zone, Power Grid Corporation of India and Shriram Finance weighed on the indices, while Tata Steel and JSW Steel featured among the gainers, Moneycontrol reported.
Meanwhile, shares of Coforge rose 2 per cent in early trade, snapping a three-session losing streak.
The stock gained after the IT services firm announced plans to acquire US-based engineering services company Encora in a $2.35 billion deal.
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