Sensex, Nifty continue slide as IT and financials sink; LTIM falls 11%

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Key Points

Stock market crash: The S&P BSE Sensex was down 620.68 points to 70,880.08 at 9:47 am, while the NSE Nifty50 tumbled 204.50 points to 21,367.45..

Benchmark stock market indices continued to slide on Thursday after registering the biggest loss in 19 months in the previous trading session...

Todays stock market slide is primarily due to weakness in financial, banking and information technology shares as investors seem to have turned cautious as a reaction to Q3 earnings of some companies, including HDFC Bank, the countrys largest private lending...

Nifty Bank was down nearly 0.8 per cent, while Nifty Financial Services fell over 1 per cent as shares of HDFC Bank continued to fall..

Meanwhile, Aditya Gaggar, Director of Progressive Shares, said, Almost all the sectors have observed a sharp correction and we feel that the ongoing correction will continue further providing a good opportunity for the investors to add good quality stocks...

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