The benchmark indices on the BSE and National Stock Exchange (NSE) ended around 1.6 per cent lower on Monday tracking weakness in the global markets. The losses during the day were led by the banking and financial stocks.
The S&P BSE Sensex crashed 552.09 points (1.63 per cent) to settle at 33,228.80, while the Nifty ended at 9,813.70, down 159.20 points (1.60 per cent). Both the indices had opened around 0.75 per cent lower earlier in the day and slipped further as the day progressed.
Only four of the 30 stocks on the Sensex ended in the positive territory. IndusInd Bank, Axis Bank, Bajaj Finance, ICICI Bank, NTPC and Tata Steel were the top losers of the day. (see heatmap below)
Among the sectoral indices, the Nifty Private Bank index was the worst performer of the day, crashing 3.84 per cent weighed by IndusInd Bank, Bandhan Bank and The Federal Bank. This also led the key Bank Nifty to fall 3.59 per cent.
Apart from banks, the Nifty Realty index fell 3.01 per cent dragged by DLF and Sunteck Realty. Separately the Nifty Financial Services index too ended 2.91 per cent lower as shares of Axis Bank, Bajaj Finance and ICICI Bank fell.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap ended at 12,454.95, down 145.20 points (1.15 per cent), however, the S&P BSE SmallCap index settled at 11,844.85, down by just 0.42 points (0.00 per cent).
The rupee depreciated 19 paise and closed below the 76 per dollar mark on Monday as weak domestic equities and sustained foreign fund outflows weighed on investor sentiment, news agency PTI reported.
The rupee opened weak at 75.93 at the interbank forex market. It fell further and finally settled for the day at 76.03 against the US dollar, down 19 paise over its last close. It had settled at 75.84 against the US dollar on Friday. During the four-hour trading session, the local currency witnessed an intra-day high of 75.93 and a low of 76.15.
Fears that a second wave of COVID-19 infections is under way sent jitters across global markets on Monday with stocks and oil under pressure while investors bought into safe havens such as German government debt.
Beijing reported its second consecutive day of record numbers of virus cases and hospitalisations rose in some US states, leading investors to reassess their assumption of a swift V-shaped recovery.
The pan-European STOXX 600 fell 2.5 per cent with all sectors and regional markets trading deep in the red after losses accelerated in the final hours of trading in Asia.
Earlier, Japan’s Nikkei fell 3.5 per cent and South Korean shares tumbled 4.8 per cent.
Futures for the S&P 500 also extended losses, shedding 2.9 per cent.
– global market input from Reuters
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