Stock markets fall for 5th day; Sensex plunges 617 points on profit booking

Sensex and Nifty declined nearly 1% on Thursday, continuing their falling streak for the fifth day

Benchmark equity indices Sensex and Nifty declined nearly 1% on Thursday, continuing their falling streak for the fifth day running due to profit booking amid monthly expiry in the derivatives segment.

The 30-share BSE Sensex plunged by 617.30 points or 0.83% to settle at 73,885.60. The barometer hit the day's low of 73,668.73 due to selling in blue-chips.

The NSE Nifty dropped by 216.05 points or 0.95% to close at 22,488.65.

Benchmark indices closed at lifetime high levels on May 23 which triggered profit-taking amid growing nervousness among investors ahead of the results of the Lok Sabha polls on June 4. Since then, Nifty and Sensex have declined around 2% in the five straight sessions.

"The benchmark index is taking cues from the U.S. market as treasury yields continue to climb following the stickiness of global inflation, delaying the central bank’s interest rates cut policy," Vinod Nair, Head of Research at Geojit Financial Services, said.

From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards.

ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers.