Mumbai [India], January 24 (ANI): The Indian equities markets witnessed heavy selling pressure for the fifth consecutive session on Monday, with benchmark Sensex and Nifty slumping by over 1.3 per cent.

Extending the last week's loss, the Sensex opened in the red at 59,023.97 points and tumbled to a low of 58,250.89 points in the morning trade.

This is the fifth consecutive session of heavy selling in the Indian stock markets. The Sensex had last 2271 points last week.

The 30 stock SP BSE Sensex of the Bombay Stock Exchange was trading at 58,262.80 points at 11.21 am, which is 774.38 points or 1.31 per cent lower from its previous close at 59,037.18 points.

The broader Nifty 50 of the National Stock Exchange slumped to 17,383.55 points, which is 233.60 points or 1.33 per cent lower from its previous session's close at 17,617.15 points.

There was broad-based selling pressure. Only six of the 30 scrips that are part of the Sensex were trading in the positive.

Bajaj Finance tumbled 4.33 per cent to Rs 7052.55. Tech Mahindra slumped 4.17 per cent to Rs 1527.75. Wipro dipped 3.90 per cent to Rs 581.60.

Tata Steel 3.46 per cent down at Rs 1128.65; Titan 3.37 per cent down at Rs 2443.60; Asian Paints 3.16 per cent down at Rs 3169.50; Bajaj Finserv 2.96 per cent down at Rs 15849.85; HCL Technologies 2.25 per cent down at Rs 1141.55 and Infosys 2.06 per cent down at Rs 1749.30 were among the major Sensex losers.

Bharti Airtel rose 1.20 per cent to Rs 703.40. IndusInd Bank 1.12 per cent higher at Rs 863.50; Sun Pharma 0.57 per cent higher at Rs 813.65; ICICI Bank 0.53 per cent higher at Rs 808.95 and State Bank of India 0.14 per cent higher at Rs 503.50 were among the major Sensex gainers. (ANI)