Stock Market Today: Sensex crashes 700 pts; Nifty below 22,500; IT stocks drag

After opening higher on Friday, the benchmark indices declined intra-day. BSE Sensex plunged 760.74 pts or 1.02 per cent at 73,850.37 as of 11.53 am; and Nifty 50 declined 186.35 pts or 0.82 per cent at 22,461.85.

All sectoral indices except the healthcare index trade in the negative territory. Nifty IT declined 1.30 per cent to trade at 32,772.00 as of 11.54 am. Nifty PSU Bank and Media stocks declined over 1 per cent. 

Coforge stock tumbled 9.41 per cent to trade at ₹4,487.15. Other major losers of Nifty IT stocks include: HCL Technologies, TCS, LTTS, and Tech Mahindra.

The major gainers on the NSE as of 11.58 am were Coal India (2.38%), Bajaj Finance (2.03%), ONGC (1.98%), Grasim (1.58%) and Bajaj Finserv (1.56%). Meanwhile, L& T (-2.23%), Reliance (-2.02%), Maruti (-1.87%), Bharti Airtel (-1.87%), and Nestle India (-1.84%) were major laggards.

Of the 3,794 stocks that were traded on the BSE as of 11.59 am, 2,353 of them declined, 1,287 advanced, and 154 remained unchanged. 250 stocks traded in the upper circuit, while 205 hit the lower circuit.