MUMBAI :
The Sensex dived 812 points while the Nifty closed below the 11,300-mark on Monday, in tandem with a global selloff after a resurgence of coronavirus cases in Europe stoked fears of another round of lockdowns.

Denmark, Greece and Spain have imposed fresh restrictions on activities to tackle a surge in COVID-19 infections. Britain too is considering a second nation-wide lockdown, prompting investors in Europe to offload travel, consumption and banking stocks.

Falling for the third straight session, the 30-share BSE Sensex index ended 811.68 points or 2.09% lower at 38,034.14.

Similarly, the NSE Nifty tumbled 254.40 points or 2.21% to finish at 11,250.55.

IndusInd Bank was the top loser in the Sensex pack, tanking 8.67%, followed by Bharti Airtel, Tata Steel, ICICI Bank, M&M, Maruti, Axis Bank and Bajaj Finance.

Only three index components ended in the green — Kotak Bank, Infosys and TCS, rising up to 0.86%.

The market capitalisation of all BSE-listed companies fell to 1,54,76,979.16 crore, wiping off 4.23 lakh crore of investor wealth.

“Indian benchmark indices succumbed to profit booking in the second half of the trading day and ended more than 2% down. It was in sync with global cues which turned negative following a surge in infections in various countries including in Europe.

“Additional restrictions were being considered in Europe following an increase in infections. With high valuations and worries that earnings may not justify such valuations anytime soon, markets may trade uncertain for the time being. Stay cautious,” said Vinod Nair, Head of Research at Geojit Financial Services.

All sectoral indices ended in the red, with BSE telecom, realty, metal, auto, healthcare and basic materials cracking up to 5.77%.

Broader BSE midcap and smallcap indices crashed as much as 3.61%.

In rest of Asia, bourses in Shanghai, Hong Kong and Seoul ended significantly lower.

Stock exchanges in Europe witnessed heavy selloff in opening trade, declining up to 3%.

Meanwhile, global oil benchmark Brent crude was trading 2.04% lower at $42.27 per barrel.

In the forex market, the rupee strengthened 7 paise and closed at 73.38 against the US dollar.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.



Source link

Posts You May Love to Read !!

0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *