Mumbai: Market benchmark Sensex plunged 871 factors to mark its worst single-session fall in almost a month on Wednesday as buyers moved to the sidelines amid rising coronavirus cases in the nation.
At the closing bell, the BSE Sensex was quoted at 49,180.31, a drop of 871.13 factors or 1.74 per cent its greatest one-day fall Since February 26.
Similarly, the broader NSE Nifty dived 265.35 factors or 1.79 per cent to settle at 14,549.40.
In the Sensex pack, all shares closed in the crimson, barring Asian Paints and PowerGrid.
M&M was the highest loser, shedding round 4 per cent, adopted by SBI, Axis Bank, ICICI Bank, IndusInd Bank, ITC and L&T.
All sectoral indices ended decrease, with BSE realty, metallic, auto, bankex, industrials and finance indices falling as much as 2.93 per cent.
Broader midcap and smallcap indices fell as much as 1.69 per cent.
“Indian market witnessed across-the-board promoting amidst excessive volatility owing to weak world cues and spike in Covid cases. All sectors barring pharma witnessed promoting as second and third wave infections in India and Europe, respectively, are certain to hamper financial restoration, Vinod Nair, Head of Research at Geojit Financial Services, stated.
Binod Modi, Head Strategy at Reliance Securities, stated, “Domestic equities fell sharply on weak world cues and continued apprehensions amongst buyers from surge in coronavirus cases in the nation.
India recorded 47,262 recent coronavirus cases in a day, the best single-day rise to date this yr, taking the nationwide COVID-19 tally to 1,17,34,058, the Union well being ministry stated on Wednesday.
The day by day rise in infections was the best recorded in 132 days, whereas the nation’s COVID-19 dying toll elevated to 1,60,441, with 275 new fatalities, the best in round 83 days.
Further, a sharp rebound in greenback index aggravated considerations regardless of dip in US bond yields and crude costs, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul plunged as much as 2 per cent.
Stock exchanges in Europe have been additionally buying and selling on a destructive notice in mid-session offers.
On the home foreign exchange market entrance, the rupee fell by one other 12 paise to finish at 72.55 towards the US greenback.
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Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 2.78 per cent greater at USD 62.48 per barrel.
