Mumbai:Equity benchmark Sensex slumped over 500 points in early trade on Thursday, tracking losses in index majors Reliance Industries, HDFC Bank and HUL as mounting COVID-19 cases in the country kept investors on edge.
After falling 501 points in the opening session, the 30-share BSE index was trading 244.68 points lower at 47,461.12 at 10.03 am.
Similarly, the broader NSE Nifty tanked 53.75 points or 0.38 per cent to 14,242.65.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by Asian Paints, Axis Bank, HUL, M&M, Tech Mahindra, Bajaj Finance, Reliance Industries and HDFC Bank.
On the other hand, Dr Reddy's, Sun Pharma, ONGC, Infosys and HDFC were among the gainers.
In the previous session on Tuesday, Sensex slipped 243.62 points or 0.51 per cent to close the session at 47,705.80, an over two-month low. Likewise, Nifty ended at 14,296.40, showing a drop of 63.05 points or 0.44 per cent.
Read More:Brace for hike in petrol, diesel prices post elections
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 1,082.33 crore on Tuesday, according to provisional exchange data.
Stock exchanges were closed on Wednesday on account of ‘Ram Navami'.