Sensex plunges 500 points amid selloff in metal and finance stocks

Mumbai, July 20 The Indian stock market slumped on Tuesday afternoon with the BSE Sensex shedding over 500 points.

The across-the-board selloff was led by metal and finance stocks.

Around 12.20 p.m., Sensex was trading at 52,040.60, lower by 512.8 points or 0.98 per cent from its previous close of 52,553.40.

It opened at 52,432.88 and has touched an intra-day high of 52,465.03 and a low of 52,013.51 points.

The Nifty50 on the National Stock Exchange was trading at 15,626.25, lower by 126.15 points or 0.8 per cent from its previous close.

Analysts said that the rising Covid cases in the US and UK due to the Delta variant, along with inflation concerns weighed on the investor sentiments.

The top gainers on the Sensex were UltraTech Cement, Hindustan Unilever, Asian Paints while the major losers were IndusInd Bank, HCL Technologies and Mahindra & Mahindra.