Sensex slips 552 points to close at 33,229; Nifty ends below 9,850

NEW DELHI: Equity indices finished in red on Monday with the benchmark BSE sensex falling over 550 points, dragged by banking and financial stocks, amid weak cues from global markets and persistent foreign fund outflow.
The 30-share BSE index fell 552 points or 1.63 per cent to close at 33,229; while, the broader NSE Nifty finished 159 points or 1.60 per cent lower at 9,814.
IndusInd Bank was the top loser in the sensex pack, falling over 7 per cent followed by Axis Bank, Bajaj Finance, NTPC, ICICI Bank and HDFC Bank falling up to 4.44 per cent. 25 out of 30 stocks finished in red.
While Reliance, HCL Tech, Sun Pharma, M&M and ONGC were the only gainers.
On the NSE platform, sub-indices Nifty Private Bank, Bank and Financial services plunged as much as 3.84 per cent.
According to traders, negative cues from global markets on fears of a second wave of coronavirus cases and foreign fund outflow hit domestic sentiment.
Beijing also recorded dozens of new cases in recent days, all linked to a major wholesale food market, raising concerns about a resurgence of the disease.
“The rising cases of coronavirus is causing investors across the globe to tread cautiously,” Anand James, chief market strategist at Geojit Financial Services told news agency Reuters.
“There is lower risk appetite and there is some hesitation,” he added.
In India, the the number of infections rose to over 3.32 lakh and the death toll rose to 9,520 and, according to the health ministry data.
Meanwhile, the rupee depreciated 19 paise and closed below the 76 per dollar mark as weak domestic equities and sustained foreign fund outflows weighed on investor sentiment.
On a net basis, foreign institutional investors sold equities worth Rs 1,311.49 crore in the capital market on Friday, provisional exchange data showed.
(With agency inputs)

[Source – Times Of India]


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