Sensex crashes over 1,000 points in early trade
Nifty under 16,000; LIC shares fall below listing price
The Indian share market fell over 1,000 points in early trade on Thursday. As of 9:50 AM, the Sensex was trading at 53,187.64 points, 1,020 points below the previous close.
Nifty50 was trading at 15,940, around 300 points lower than the previous close.
Tech Mahindra and Infosys were the top losers. Only 1 out of 30 stocks in Sensex, ITC, was in the green.
IT and Metal stocks were showing weak performance at the NSE. In IT stocks, MPhasis Limited and L&T Tech were the top losers.
In Metal stocks, Jindal Steel and Vedanta Ltd were the top losers, both down over 3 per cent.
Only Ratnamani and Welspun Corp were in the green.
The shares of LIC fell below listing price of Rs 867 at BSE. As of 10 AM, they were trading at Rs 860.35, nearly 15 points lower than the previous close.
The shares fell down to as low as Rs 855.80 on Thursday.
The IPO showed a tepid debut, listing with nearly 9 per cent discount on Tuesday. Rs 50,000 crore of investors' wealth was wiped off on the listing day.
