Mumbai: Equity benchmark Sensex plummeted 1,708 points on Monday following an across-the-board selloff as spiking COVID-19 circumstances within the nation spooked buyers.
The 30-share BSE index sank 1,707.94 points or 3.44 per cent to finish at 47,883.38.
Similarly, the broader NSE Nifty plunged 524.05 points or 3.53 per cent to complete at 14,310.80.
IndusInd Bank was the highest loser within the Sensex pack, tanking over 8 per cent, adopted by Bajaj Finance, SBI, ONGC, Titan, M&M, Bajaj Finserv, ICICI Bank and Axis Bank. Dr Reddy’s was the only gainer, climbing over 4 per cent.
“Domestic equities reminded the bloodbath of March 2020 as record rise in COVID-19 cases in the country and possibility of lockdowns in several states dented investors’ sentiments,” stated Binod Modi, Head – Strategy at Reliance Securities.
Concerns of attainable reversal in financial momentum and earnings restoration made buyers risk-averse and big selloff led to the erosion of practically Rs 9 lakh crore in investor wealth, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo had been within the pink, whereas Seoul ended with gentle good points.
Stock exchanges in Europe had been largely buying and selling on a constructive observe in mid-session offers.
Meanwhile, worldwide oil benchmark Brent crude was buying and selling 0.57 per cent greater at USD 63.31 per barrel.
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