Sensex drops 300 pts, Nifty slips below 19450; Tata Steel gains

The NSE Nifty 50 fell 33.60 points or 0.17% to 19,463.70 and BSE Sensex opened lower and tanked 294 points to hit a low of 65,785.64 in early trade.

By Sunita Last updated Jul 7, 2023 0

Mumbai: The Domestic equity indices BSE Sensex and Nifty dropped on Friday amid negative global cues. The NSE Nifty 50 fell 33.60 points or 0.17% to 19,463.70 and BSE Sensex opened lower and tanked 294 points to hit a low of 65,785.64 in early trade.

At 9.40 AM, the BSE barometer was trading at 65,767.85, down by 17.79 points or 0.03 per cent over the last close.

In sectoral indices, Nifty Financial Services dropped 0.25%, Bank Nifty tanked 146.15 points or 0.32% to 45,193.75, and Nifty IT fell 0.19% while Nifty PSU Bank rose 0.16%, Nifty Media gained 0.81%, and Nifty Realty jumped 0.82%.

The top gainers on Nifty 50 were Titan, Mahindra & Mahindra, Axis Bank, BPCL and SBI Life while the losers were Cipla, Divis Labs, Apollo Hospitals, IndusInd Bank and Nestle India.

Among Sensex stocks, Nestle, IndusInd Bank, PowerGrid, ICICI Bank, Bajaj Finance, Kotak Bank, HCL Tech, HDFC Bank, Infosys and Tech Mahindra declined due to profit-taking after a record rally. Meanwhile, the Reliance, Tata Steel, Titan, Maruti, M&M, Sun Pharma, and NTPC were among major gainers.