Mumbai: Equity benchmark Sensex plummeted over 1,400 points in early commerce on Monday, monitoring losses in index-heavyweights HDFC twins, ICICI Bank and Reliance Industries as spiking COVID-19 instances in the nation spooked traders amid unfavourable cues from world markets.
The 30-share BSE index was buying and selling 1,427 points or 2.88 per cent decrease at 48,164.32.
Similarly, the broader NSE Nifty plunged 431.90 points or 2.91 per cent to 14,402.95.
IndusInd Bank was the highest loser in the Sensex pack, tanking round 8 per cent, adopted by SBI, Bajaj Finance, Bajaj Auto, Titan, ICICI Bank, Bajaj Finserv and Maruti.
On the opposite hand, Infosys was the only gainer.
In the earlier session, Sensex had settled 154.89 points or 0.31 per cent decrease at 49,591.32, and Nifty slipped 38.95 points or 0.26 per cent to 14,834.85.
Foreign institutional traders have been web sellers in the capital market as they offloaded shares value Rs 653.51 crore on Friday, in line with provisional alternate knowledge.
“Since the second wave of the pandemic is popping out worse than anticipated, there’s profound uncertainty about its influence on the financial system and markets,? stated V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The scenario is the worst in economically vital Maharashtra. This can influence the market’s assumption of round 11 per cent GDP progress and above 30 per cent earnings progress, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo have been in the purple in mid-session offers, whereas Seoul was buying and selling with gentle features.
Meanwhile, worldwide oil benchmark Brent crude was buying and selling 0.05 per cent larger at USD 62.98 per barrel.
