Sensex extends losses to 6th session, closes 135 points down

Mumbai: The Indian stock markets' key indices, Sensex and Nifty, closed in the red for the sixth straight session on Friday dragged by heavy selling pressure in IT stocks and over 6 per cent slump in Titan.

The 30 stock S&P BSE Sensex closed 135.37 points or 0.26 per cent down at 51,360.42 points against its previous day's close at 51,495.79 points. The markets witnessed volatility during the day. The Sensex started the day with a deep cut at 51,181.99 points and slumped to a low of 50,921.22 points in the early morning trade. The markets witnessed volatility in the morning session. The Sensex jumped into positive and touched a high of 51,634.15 points in the morning trade.

However, it came under selling pressure again.

This is the sixth straight day of weakness in the markets. The Sensex had lost 1045.60 points or 1.99 per cent on Thursday. The Sensex had slipped by 152.18 points or 0.29 per cent on Wednesday. The index had slumped by 153.13 points, 1456.74 points and 1016.84 points in the previous three sessions, respectively.

The broader Nifty 50 of the National Stock Exchange slumped 67.10 points or 0.44 per cent to close at 15,293.50 points against its previous day's close at 15,360.60 points.

Earlier, the Nifty 50 started the day sharply down at 15,272.65 points and slumped to a low of 15,183.40 points in the morning trade. The Nifty touched a high of 15,400.40 points in the intra-day.

The Nifty had slumped by 331.55 points or 2.11 per cent on Thursday.

Tata Group's luxury goods firm Titan Company tumbled 6.06 per cent to Rs 1935.35. The scrip has crashed by over 30 per cent from its 52-week high of Rs 2767.55 recorded on March 21 on the BSE.

Wipro slumped 4.07 per cent to Rs 405.20. Tata Consultancy Services fell 1.69 per cent to Rs 3089.25. Tech Mahindra slumped 1.07 per cent to Rs 965.05. HCL Technologies fell 0.61 per cent and Infosys closed 0.68 per cent down.

Only nine of the 30 scrips that are part of the Sensex closed in the positive.

Bajaj Finance jumped 2.63 per cent to Rs 5422.70. Bajaj Finserv rose 2.47 per cent to Rs 11758.40.

The index heavyweight Reliance Industries closed 1.18 per cent higher at Rs 2589.30. ICICI Bank, ITC, HDFC Bank, Tata Steel, Kotak Bank and Axis also closed in the positive.