Sensex tumbled 189 points, led by losses in index heavyweights Reliance Industries, TCS and HDFC, while Nifty fell 45.65 points at close on Monday, amid a negative trend in global markets.
Volatility during closing hour due to FM’s speech on fresh Covid-19 stimulus
Sensex tumbled 189 points, led by losses in index heavyweights Reliance Industries, TCS and HDFC, while Nifty fell 45.65 points at close on Monday, amid a negative trend in global markets.
The rupee inched 1 paisa higher to settle almost flat at 74.19 against the dollar, amid Covid-19 daily fatalities going below 1,000 for the first time in over two months, taking India’s total death toll to 3,96,730.
After touching a lifetime high of 53,126.73 in opening session, the 30-share BSE index ended 189.45 points or 0.36 per cent lower at 52,735.59, while the broader NSE Nifty settled 0.29 per cent down at 15,814.70 after touching a lifetime intra-day peak of 15,915.65.
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel, while Dr Reddy's, Tata Steel, Tech Mahindra, Sun Pharma and HUL were among gainers.
“After opening at a record high, domestic markets slipped into the negative zone tracking cues from global peers due to spike in Covid cases across Asia,” said Vinod Nair, head of research at Geojit Financial Services.
PSU banks were in focus in anticipation of progress in privatisation, he said, adding the market got volatile in the closing hour during the FM’s announcement on fresh stimulus, though it was focused on Covid-19 relief package mainly for healthcare and stressed sectors, which will benefit the broader economy.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with losses. Stock exchanges in Europe were trading in the red in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.16 per cent lower at $75.26 per barrel.