Stock market slumps after continuous surge

Our Correspondent

The stock market witnessed loses after a continuous jump. It still set a new record, but later closed with a loss due to fluctuations.

The Sensex was down 623 points and the Nifty was down 180 points. The Sensex closed at 43599.02 points and the Nifty closed at 12,771.50 points. The volatility was very strong during the trade. The Nifty traded down more than 200 points during the day. The day’s low was 12,745 points. The Nifty had gone up to 12,963 points.

The main losers were banking stocks, which have led the market in recent days. The Nifty Bank Index fell 3.02 percent. Banking stocks such as SBI, Axis Bank and ICICI Bank were the biggest losers.

Power Grid, ITC, NTPC, Tata Steel and Titan are the top five gainers in the Nifty. Powergrid rose 2.45 per cent. Shares of ITC, NTPC, Tata Steel and Titan gained over one per cent.

Most of the stocks in the Nifty fell. Thirty-three Nifty stocks lost while 17 gained. Shares of SBI, Axis Bank, ICICI Bank, HDFC Life and JSW Steel lost more than 3 per cent.