Led by losses in index heavyweight Reliance Industries, private lenders and select IT stocks, benchmark indices extended their losses to the fourth day on Wednesday. Weak global markets, a mixed set of Q3 earnings and selling by foreign institutional investors (FIIs) dented the domestic market mood in today s session. Meanwhile, investors chose to book profits ahead of the Union Budget on Monday, February 1. The BSE barometer Sensex plunged 938 points to 47,410 while its NSE counterpart Nifty slipped below the 14,000 mark to end at 13,968, down 271 points. The broader market trend was mixed with Nifty Midcap 100 and Nifty 500 indices down 1.58 per cent and 1.68 per cent, respectively, while Nifty Smallcap index added 0.15 per cent.
Nifty, Sensex Crash on Fresh Corona Virus Mutant Strain Fears
Moneylife Digital Team / IANS
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We had mentioned in the previous week’s closing report that Nifty, Sensex continue to cruise higher. On Monday, the major indices crashed on concerns over a new strain of the Covid-19 virus in the United Kingdom leading to fresh restrictions in European countries which spooked global investors, plunging India s stock markets deep into the red. India s equity benchmark indices fell the hardest in seven months. On the NSE, there were 254 advances, 1,687 declines and 299 unchanged.
The broad sell offs which come in the wake of fresh lockdowns in the UK to curb the spread of a new strain of coronavirus, hit investor sentiment. Investors lost Rs7 lakh crore and 500 stocks hit lower circuit today as market participants preferred to book profits, amid weak global cues. Market-capitalisation of BSE-listed firms tanked to Rs178 lakh crore from Rs185 lakh crore on Friday.