Sensex Tanks Over 1,300 Points On Spiking Covid-19 Cases; Nifty Drops To 14,222
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a positive note in mid-session deals.
PTI 19 April 2021 PTI PTI 2021-04-19T10:08:44+05:30 Sensex Tanks Over 1,300 Points On Spiking Covid-19 Cases; Nifty Drops To 14,222 outlookindia.com 2021-04-19T10:12:08+05:30
Equity benchmark Sensex crashed over 1,300 points in early trade on Monday, tracking massive across-the-board selloff as mounting COVID-19 cases spooked investor sentiment.
The 30-share BSE index was trading 1,318.21 points or 2.70 per cent lower at 47,513.82.
Similarly, the broader NSE Nifty tanked 394.90 points or 2.70 per cent to 14,222.95.
All Sensex components were in the red. Bajaj Auto was the top loser in the Sensex pack, dropping over 5 per cent, followed by IndusInd Bank, SBI, ICICI Bank, Bajaj Finance and Axis Bank.
Investors lost nearly Rs 5 lakh crore in afternoon trade today after Sensex crashed over 1,800 points amid sell-off in global markets. Market cap on BSE, which hit an all-time closing high of Rs 206.18 lakh crore on February 25, fell to Rs 201.36 lakh cr
A sharp crash in the US markets in the overnight session spilt over to other Asian markets too on Friday, with India being no exception. Both the benchmark indices BSE Sensex and NSE Nifty witnessed a nearly 3 per cent crash, forcing investors to scurry for cover. Financials, Reliance Industries (RIL) and tech majors TCS and Infosys were among the top drags. Marginal gains in select pharma names, however, cushioned the fall to some extent. The market breadth was in favour of the bears with the advance-decline ratio at nearly 1:2, implying that one share rose for every two that fell. Meanwhile, the market capitalisation of the BSE-listed companies was eroded by Rs 4.5 trillion.