July 20, 2021 3:39:16 am
Domestic markets on Monday joined a global selloff amid rising Covid cases, inflation woes and slackening growth prospects in the US. The Sensex plummeted by 587 points, or 1.1 per cent, to 52,553.40 and the Nifty50 shed 171 points, or 1.07 per cent, at 15,752.40.
The rupee also fell 31 paise and inched closed to the 75 level to end at 74.88 against the US currency.
Meanwhile, in the US, the Dow and S&P 500 indices sank over 2 per cent Monday as investors sold off economically sensitive shares and travel stocks and sought the perceived safety of bonds on fears that a spike in Covid cases would derail economic recovery, as per a Reuters report.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.