Taking Stock | Sensex tanks 1,158 points on inflation worries; Nifty below 15,850

Taking Stock | Sensex tanks 1,158 points on inflation worries; Nifty below 15,850

More than 300 stocks, including Wockhardt, Voltas, Sun TV Network, RBL Bank, Nestle India, Jubilant FoodWorks and IFCI, touched their 52-week low on the BSE





May 12, 2022 / 05:04 PM IST





Indian markets plunged deeper into the red on May 12, as the fall continued for a fifth straight day amid weak global markets led by rising inflation fears and selling across the sectors.

At close, the Sensex was down 1,158.08 points, or 2.14 percent, at 52,930.31, and the Nifty was down 359.10 points, or 2.22 percent, at 15,808.

Amid weak global markets, Indian indices started on a negative note with the Nifty slipping below the 16,000-mark in the initial trade. Selling intensified as the day progressed but the Nifty recovered some losses to close at 15,800.

"Indian equity benchmarks opened in the red following weak trade in Asian market peers as global stocks struggled for rebound after higher US inflation report," said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.

Markets further weakened in the afternoon, dragged by metal, power and utilities and ahead of the domestic retail inflation numbers.

"Traders were also cautious as reports cited the RBI could again hike rates in