Market erases previous losses amid buying across sectors
At close, Sensex was up 592.93 points or 0.78% at 76,617.44, and the Nifty was up 166.65 points or 0.72% at 23,332.35.
Benchmark Sensex plunged 414 points on Tuesday, dragged by heavy losses in heavyweights HDFC Bank, RIL and ICICI Bank as investors fretted over the rising number of COVID cases in the country.
After opening on a positive note, the 30-share index reversed all early gains to settle 413.89 points, or 1.20 per cent, lower at 33,956.69.
Advertisement
In a similar movement, the NSE Nifty declined 120.80 points, or 1.19 per cent, to 10,046.65.
Advertisement
ICICI Bank was the top laggard in the Sensex pack, falling around 3 per cent, followed by Bharti Airtel, HDFC Bank, Bajaj Finance, Kotak Bank and Axis Bank.
On the other hand, IndusInd Bank, Sun Pharma, M&M and HDFC were among the gainers.
According to analysts, domestic market succumbed to profit-booking at higher levels as concerns over rising number of COVID-19 cases in the country outweighed the optimism over reopening of the economy.
The number of infections in India spiked to 2,66,598, while the death toll rose to 7,466 and, according to the health ministry.
The number of cases around the world linked to the disease has crossed 71.19 lakh and the death toll has topped 4.06 lakh.
In contrast to the Indian equities market, Shanghai, Hong Kong and Seoul bourses ended with gains. Japan settled in the red.
Stock exchanges in Europe were trading with significant losses in early deals.
International oil benchmark Brent crude futures fell 1.69 per cent to USD 40.11 per barrel.
On the currency front, the rupee closed 6 paise lower at 75.61 against the US dollar.
Advertisement
Related posts
Market kicks off new financial year in red
At close, Sensex was down 1,390.41 points or 1.80% at 76,024.51, and the Nifty was down 353.65 points or 1.50% at 23,165.70.
Markets end lower with auto, IT stocks under pressure
The benchmark indices ended lower on Friday, with auto and Information Technology stocks remaining under pressure amid concern over the upcoming US tariffs.
