Mumbai: Equity benchmark Sensex tumbled over 300 points in early commerce on Monday, monitoring losses in index majors Reliance Industries, HDFC Bank and ICICI Bank amid a weak development in international markets.
The 30-share BSE index was buying and selling 305.33 points or 0.61 per cent decrease at 49,552.91, and the broader NSE Nifty fell 76 points or 0.52 per cent to 14,668.
PowerGrid was the highest loser in the Sensex pack, shedding round 2 per cent, adopted by Reliance Industries, ICICI Bank, HDFC Bank and IndusInd Bank.
On the opposite hand, Sun Pharma, Dr Reddy’s, Asian Paints and Infosys have been among the many gainers.
In the earlier session, Sensex ended 641.72 points or 1.30 per cent increased at 49,858.24, and Nifty surged 186.15 points or 1.28 per cent to complete at 14,744.
Foreign institutional traders (FIIs) have been internet consumers in the capital market on Friday as they purchased shares value Rs 1,418.43 crore, as per change knowledge.
V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned the market is in an excessively unstable zone. Support comes from sustained FII shopping for which has crossed Rs 7,000 crore over the last 4 buying and selling days.
“But, there is a major dampener in the form of fast-rising COVID-19 cases, especially in some economically significant cities. Restricted economic activity in these regions might impact the optimistic growth projections for FY 22,” he added.
Elsewhere in Asia, bourses in Shanghai and Seoul have been buying and selling on a optimistic notice in mid-session offers, whereas Hong Kong and Tokyo have been in the purple.
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Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.50 per cent decrease at USD 64.21 per barrel.
