Sensex nosedives over 1,400 points in early trade; Nifty tests 14,400

3 weeks ago 10

Mumbai: Equity benchmark Sensex plummeted implicit 1,400 points successful aboriginal commercialized connected Monday, tracking losses successful index-heavyweights HDFC twins, ICICI Bank and Reliance Industries arsenic spiking COVID-19 cases successful the state spooked investors amid antagonistic cues from planetary markets.

The 30-share BSE scale was trading 1,427 points oregon 2.88 per cent little astatine 48,164.32.

Similarly, the broader NSE Nifty plunged 431.90 points oregon 2.91 per cent to 14,402.95.

IndusInd Bank was the apical loser successful the Sensex pack, tanking astir 8 per cent, followed by SBI, Bajaj Finance, Bajaj Auto, Titan, ICICI Bank, Bajaj Finserv and Maruti.

On the different hand, Infosys was the sole gainer.

In the erstwhile session, Sensex had settled 154.89 points oregon 0.31 per cent little astatine 49,591.32, and Nifty slipped 38.95 points oregon 0.26 per cent to 14,834.85.

Foreign organization investors were nett sellers successful the superior marketplace arsenic they offloaded shares worthy Rs 653.51 crore connected Friday, according to provisional speech data.

"Since the 2nd question of the pandemic is turning retired worse than expected, determination is profound uncertainty astir its interaction connected the system and markets,? said V K Vijayakumar, Chief Investment Strategist astatine Geojit Financial Services.

The concern is the worst successful economically important Maharashtra. This tin interaction the market's presumption of astir 11 per cent GDP maturation and supra 30 per cent net growth, helium added.

Elsewhere successful Asia, bourses successful Shanghai, Hong Kong and Tokyo were successful the reddish successful mid-session deals, portion Seoul was trading with mild gains.

Meanwhile, planetary lipid benchmark Brent crude was trading 0.05 per cent higher astatine USD 62.98 per barrel.

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