Sensex slumps over 1,000 pts; Nifty ends below 17,250; HDFC Bank, L-;T among top bears; Banking and Financial stocks underperform

7 Feb 2022 , 03:51 PM

Equity benchmarks on Monday extended fall to the third straight session led by selling in private sector banks and financial stocks, however, state-run banks pushed higher after a batch of strong quarterly results.

The BSE Sensex tanked 1,123 points or 1.7 per cent to 57,21, while the broader NSE Nifty dropped 303 points or 1.73 per cent to 17,213.60. BSE Midcap and smallcap indices fell 0.75-1.25 per cent.

On the Sensex pack, HDFC Bank, Bajaj Finance, L&T, Bajaj Finserv, HDFC and Kotak Mahindra Bank were the top laggards while Power Grid Corporation of India, State Bank of India (SBI), NTPC, Tata Steel and Ultratech Cement were in the green territory.

On the sectoral front, except PSU bank, metal and power all other sectoral indices ended in the red with auto, FMCG, IT, bank, healthcare, realty, capital goods shed 1-2 per cent.

Shares of InterGlobe Aviation, the parent of IndiGo, zoomed over 9 per cent after the company posted a profit after tax of Rs129.8cr in the three months ended December 2021.

Shares of One97 Communications, which operates under the Paytm brand, slumped over 7 per cent after the company reported a widening of consolidated loss to Rs778.5cr in the December 2021 quarter.

Meanwhile, the Reserve Bank of India (RBI) has rescheduled the meeting of the rate-setting Monetary Policy Committee (MPC) by a day in view of Maharashtra declaring a public holiday on February 7.

Further, European stock markets recovered with London’s benchmark FTSE 100 index grew 0.5 per cent to 7,556.96 points.