Amid global market weakness, indices tumble over 1%
Benchmark indices tumbled over 1% on Thursday marking their fourth consecutive session of decline. The decline came amid global market weakness weighing heavily on investor sentiment.
The S&P BSE Sensex and NSE Nifty 50 indexes declined nearly 6 per cent on Monday due to massive selloffs in global markets led by the new tension between the US-China. Further, the extension of the lockdown for the third time by another two weeks contributed to the fall.
The Sensex bled as much as 2,002 points or 5.94 per cent to hit 31,715.35 mark as global sell off haunted investors. The Nifty 50 index nosedived 5.74 per cent or 566.40 points to trade at 9,293.50.
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HDFC twins, ICICI Bank, Infy and RIL lead the market losers. Out of 30 stocks, 28 ended in red on Monday. All indices except two i.e. BSE Telecom and Healthcare also closed in red.
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Bharti Airtel and Sun Pharma were the gainers in the BSE index.
As per the data showed on BSE, today’s fall has eroded around Rs 5.8 trillion of the investors’ wealth.
Bourses in Hong Kong and Seoul were plunged up to 4 per cent, while stock exchanges in Europe opened with significant losses after claims by the US with regard COVID-19 sparked fears of a renewed trade war and fresh tussle with China over its role in the pandemic spread.
Although the major markets in Japan and China were closed for holidays.
The death toll due to COVID-19 in India rose to 1,373 and the number of cases climbed to 42,533 in the country, according to the health ministry.
The global tally of coronavirus infections was over 35 lakh, with around 2.47 lakh deaths.
Meanwhile, the rupee depreciated by 64 paise to provisionally settle at 75.73 against the US dollar.
International oil benchmark Brent crude futures were trading 2.95 per cent lower at USD 25.66 per barrel.
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