Sensex nosedives 1,708 points amid massive selloff; Nifty plunges below 14,350

3 weeks ago 9

Mumbai: Equity benchmark Sensex plummeted 1,708 points connected Monday pursuing an across-the-board selloff arsenic spiking COVID-19 cases successful the state spooked investors.

The 30-share BSE index sank 1,707.94 points oregon 3.44 per cent to extremity astatine 47,883.38.

Similarly, the broader NSE Nifty plunged 524.05 points oregon 3.53 per cent to decorativeness astatine 14,310.80.

IndusInd Bank was the apical loser successful the Sensex pack, tanking implicit 8 per cent, followed by Bajaj Finance, SBI, ONGC, Titan, M&M, Bajaj Finserv, ICICI Bank and Axis Bank. Dr Reddy's was the sole gainer, climbing implicit 4 per cent.

"Domestic equities reminded the bloodbath of March 2020 arsenic grounds emergence successful COVID-19 cases successful the state and anticipation of lockdowns successful respective states dented investors' sentiments," said Binod Modi, Head - Strategy astatine Reliance Securities.

Concerns of imaginable reversal successful economical momentum and net betterment made investors risk-averse and immense selloff led to the erosion of astir Rs 9 lakh crore successful capitalist wealth, helium added.

Elsewhere successful Asia, bourses successful Shanghai, Hong Kong and Tokyo were successful the red, portion Seoul ended with mild gains.

Stock exchanges successful Europe were mostly trading connected a affirmative enactment successful mid-session deals.

Meanwhile, planetary lipid benchmark Brent crude was trading 0.57 per cent higher astatine USD 63.31 per barrel.

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