Sensex tumbles 1,158 points; public sector banks worst hit

Mumbai: The Indian stock markets' key indices, Sensex and Nifty, slumped by more than two per cent on Thursday dragged by heavy selling pressure in banking and metal stocks as high US inflation data dampened investors' confidence.

The 30 stock S&P BSE Sensex tumbled 1158.08 points or 2.14 per cent to 52,930.31 points against its previous day's close at 54,088.39 points. Earlier, the Sensex started the trade deep in the red at 53,608.35 points and slumped to a low of 52,702.30 points in the intra-day.

This is the fifth straight session of loss in the benchmark Sensex. The Sensex had lost 276.46 points or 0.51 per cent on Wednesday.

The broader Nifty 50 of the National Stock Exchange dipped 359.10 points or 2.22 per cent to 15,808 points against its previous day's close at 16,167.10 points.

The Nifty had slumped 72.95 points or 0.45 per cent on Wednesday.

IndusInd Bank tumbled 5.82 per cent to Rs 869.45. Tata Steel dipped 4.13 per cent to Rs 1118.15. Bajaj Finance fell 3.76 per cent to Rs 5588. Bajaj Finserv declined 3.53 per cent to Rs 12848.95.

State Bank of India plunged 2.93 per cent to Rs 462.45. HDFC Bank dipped 3.34 per cent to Rs 1303.10.

The index heavyweight Reliance Industries fell 1.99 per cent to Rs 2400.95.

Only one of the 30 scrips that are part of the Sensex closed in the positive. Wipro rose 0.91 per cent to Rs 475.50.