Sensex drops 303.35 pts

Mumbai, May 25 : Extending losses for the third straight session on Wednesday, the BSE Sensex dipped 303.35 pts to settle at 53,749.27 on heavy selling in IT, Realty, Industrials and Capital Goods stocks.
The Nifty of National Stock Exchange (NSE) too slipped 99.35 pts at to close at 16,025.80.
High volatility was witnessed during the session, as the Sensex surged 202 pts at 54,254.07 in opening trade. It rallied by 327 pts to reach 54,379.59, the days’s high.
Later, it slipped 369 pts to 53,683.16, the day’s low, before closing at 53,749.26.
Sectoral indices like IT, Realty, Industrials, Capital Goods and Consumer Discretionary Goods and Services kept the market low.
In scrips, Asian Paints was a major loser, down 8.04 pc to Rs 2838.40 followed by TCS by 3.69 pc to Rs 3166.60, Tech Mahindra by 3.53 pc to Rs 1059.25, Wipro by 3.30 pc to Rs 444.85 and L&T by 3.09 pc to Rs 1575.65.
The gainers were NTPC by 3.84 pc to Rs 152.65, Bharti Airtel by 1.50 pc to Rs 688.95, Kotak Bank by 1.42 pc to Rs 1907.50 and HDFC by 1.35 pc to Rs 2237.40.
The Mid Cap fell by 1.93 pc and Small Cap by 2.94 pc.
In 30 scrips, 12 advanced while 18 declined.
The European Market was up with the pan-European Stoxx 600 adding 0.6 per cent in early trade.
A mixed trend was seen in Asian Market as Nikkei declined 0.26 per cent while Kospi moved up 0.4 per cent, ASX200 gained 0.37 per cent.
Hang Seng of Kong Kong too rose 0.29 per cent.


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