Market erases all gains, Nifty falls below 23,300
At close, the Sensex was down 422.59 points or 0.54% at 77,155.79, while the Nifty fell 168.60 points or 0.72% at 23,349.90.
Domestic markets broke their three-session losing streak on Monday as the market benchmarks Sensex and Nifty witnessed a sharp upside in the last trading hours. At the end of the day, The S&P BSE Sensex ended 173.44 points or 0.46 per cent higher at 38,050.78 while NSE Nifty closed 68.70 points or 0.61 per cent up at 11,247.10.
NTPC, Bajaj Auto, Tech Mahindra, ONGC and Maruti were among the major contributors to the Sensex’s gains, climbing up to 7.92 per cent. On the other hand, SBI, Bharti Airtel, RIL, Sun Pharma and ICICI Bank and HDFC Bank ended with losses.
Of the 30 constituents, 24 advanced while the remaining 6 declined.
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Bourses in Asia, barring Japan, closed significantly higher. Japan’s Nikkei slumped after the country’s GDP shrank 7.8 per cent in the April-June period compared with the previous quarter.
International crude oil benchmark Brent was trading 0.40 per cent higher at $45.13 per barrel.
Analysts, meanwhile, said concerns over rising coronavirus cases around the globe will continue to weigh on investor sentiment.
India”s total COVID-19 cases neared 26.5 lakh and the death toll from the infection climbed past 50,000-mark, official data showed.
Globally, the number of cases surpassed 2.16 crore and deaths topped 7.74 lakh.
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