Sensex Down 900 Pts, Nifty Slips Below 24,500; HDFC Bank, RIL in Red

Amid intense selling in today’s trading session, Sensex is currently trading at 80,839.33, down 1.11% whereas Nifty slipped by 1.00% at 24,421.40.

Selling activity was witnessed in shares of HDFC Bank, Reliance Industries (RIL), and Bharti Airtel. Cipla, Tata Motors, Wipro, Adani Ports, and Tech Mahindra are the top gainers. On the BSE, Adani Ports was the top gainer which was up by 0.8%, followed by Bajaj Finance, and Tata Motors.

Shares of Gravita were up by 5% as the company launched a ₹750 crore qualified institutional placement (QIP). The company has received a go-ahead to raise ₹1,000 crore via the offering, CNBC-TV18 reported.

“The indicative issue price for the QIP is ₹2,096.2 per share, representing a 6.1% discount to the closing price and a 5% discount to SEBI's floor price, sources in the know told CNBC-TV18. The offering will result in an equity dilution of 5.2%,” the report added.