The benchmark equity indices on the BSE and National Stock Exchange (NSE) erased all of their day’s gains and settled lower for the seventh consecutive session on Monday following a last hour selloff in the market triggered by fears of fresh coronavirus cases in India.
The S&P BSE Sensex, which had climbed 785.88 points (2.05 per cent) to 39,083.17 during the intraday trade, erased all its gains and ended 153.27 points (0.40 per cent) lower at 38,144.02, thereby crashing 939.15 points in the process.
The broader Nifty 50 index on the NSE ended 69.00 points (0.62 per cent) lower to settle at 11,132.75. During the day, the 50-share NSE benchmark had risen 231.25 points (2.06 per cent) to 11,433.00.
Among the biggest contributors to Sensex’s fall were public sector bank giant State Bank of India (SBI) which fell 5.10 per cent and oil-to-telecom behemoth Reliance Industries (RIL) which slipped 1.04 per cent.
All the sectoral indices on NSE except the Nifty IT index ended in the negative territory on Monday. The Nifty IT index settled 1.41 per cent higher led by Tata Elxsi, HCL Technologies and Infosys. The Nifty PSU bank index was the top loser of the day as it cracked 4.52 per cent weighed by Bank of Baroda, Punjab National Bank and SBI.
In the broader market, the S&P BSE MidCap index on the BSE ended at 14,504.43, down 95.59 points (0.65 per cent), while the S&P BSE SmallCap settled at 13,603.96, down 105.05 points (0.77 per cent).