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Sensex hits 40k; dips 1,314 pts from high by close; Nifty holds 11,650

SI Reporter/New Delhi 23 May 19 | 06:58 AM

Benchmark indices tumbled over 1,300 points from its intraday high as investors booked profits at higher levels that saw Sensex and Nifty hitting 40,000 and 12,000 levels, respectively, over optimism surrounding the National Democratic Alliance (NDA's) likely return to power after the 2019 Lok Sabha election.

The S&P BSE Sensex hit the 40,000 mark on Thursday, after trends showed Narendra Modi - led NDA sweeping to power in the Lok Sabha elections 2019. FOLLOW ELECTION RESULTS LIVE HERE

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The Sensex recorded its sharpest intra-day fall in the past 11 years in absolute terms. The index closed at 38,811 levels - down 299 points fir the day and 1,314 points from intra-day high level of 40,125. In the process, the index posted its sharpest intra-day decline since January 21, 2008. Vedanta Limited, ITC, Tata Motors, HDFC Bank, Bajaj Finance led the list of losers. Out of the 30 BSE constituents, 16 ended in the red.

The broader Nifty50 index dipped 0.7 per cent to end the day at 11,657 levels. The market breadth was tilted in favour of sellers. About 920 stocks declined and 810 shares advanced on the NSE.

In the broader market, the S&P BSE MidCap index dropped 21 points, or 0.15 per cent, at 14,650 levels, while the S&P BSE SmallCap index concluded the day 16 points, or 0.11 per cent, lower at 14,353 levels.

Sectorally, all the indices on NSE, except Nifty Media and Realty, settled lower at the day's end, with Nifty FMCG bleeding the most 1.7 per cent, followed by Nifty Metal 1.48 per cent. The Nifty Bank index, which hit 31,000-level earlier in the day, dipped 118 points to 30,409 levels.


IndusInd Bank shares surged 8 per cent to Rs 1,640 in early trade on Thursday on the BSE before ending the day 5 per cent higher on expectation that the bank would return to normalcy in terms of earnings momentum after the entire exposure to IL&FS was classified as non-performing asset (NPA) in the fourth quarter of fiscal 2018-19 (Q4FY19). READ MORE

Shares of Adani Group companies surged up to 14 per cent intra-day on the BSE on Thursday as trends showed the Narendra Modi-led National Democratic Alliance (NDA) leading the vote counts for the 2019 Lok Sabha election. READ MORE

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Company Price Gain (%)
IndusInd Bank1,462.951.93
Tata Motors162.901.12
Axis Bank796.600.97
O N G C169.000.93
Larsen & Toubro1,565.200.93


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