Market slumps! Sensex crashed at 878.88 points

Mumbai: The BSE Sensex on Thursday dropped 878.88 points to settle at 61,799.03 on weak global cues as US federal reserve hiked interest rates by 50 basis points.The Nifty of National Stock Exchange (NSE) too slipped 245.40 points at 18,414.90.

The Sensex opened low at 62,530.07, fell by 147 points. During the session, it was tanked 962 points at 61,715.61, days low, before closing at 61,799.03, sliding 878.88 points from its previous close.

In sectoral indices like IT was worst hit, fell by 2.06 per cent followed by Technology by 1.92 per cent, Metal by 1.82 per cent, Financial services by 1.19 per cent.

In scrips, Tech Mahindra was a major loser, down by 3.77 per cent to Rs 1024.90 followed by Titan by 2.62 per cent to 2521.95, Infosys by 2.50 per cent to Rs 1540.70 and HDFC by 2.07 per cent to Rs 2672.10.

The Mid Cap fell by 1.05 per cent and Small Cap by 0.61 per cent.In 30 scrips, 2 rose while 28 declined.The Asian Market was down, as Australia by 0.65 followed by China by 0.25 per cent, Hong Kong by 1.54 per cent and Japan by 0.37 per cent.(UNI)