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Domestic indices ended with steep losses; Sensex tanks 540 points to close at 40,146 & Nifty slides 163 pts to 11,768

Sensex today
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Domestic indices ended with steep losses; Sensex tanks 540 points to close at 40,146 & Nifty slides 163 pts to 11,768

Highlights

Equity benchmarks on Monday, October 26, 2020, declined more than 1.3 per cent amid negative global cues. The resurgence of the Coronavirus in Europe spooked investors.

Equity benchmarks on Monday, October 26, 2020, declined more than 1.3 per cent amid negative global cues. The resurgence of the Coronavirus in Europe spooked investors. The domestic indices fell mainly due to a plunge in Energy, Metal and Auto sector stocks. The BSE 30-share index, Sensex lost 540 points or 1.33 per cent to settle at 40,145.50. The NSE Nifty 50 index also fell 162.60 points or 1.36 per cent to settle at 11,767.75. Similarly, Nifty Bank fell 402.85 points or 1.65 per cent to 24,075.45.

The broader market at BSE also declined. The BSE Mid-Cap index tumbled 1.77 per cent and the BSE Small-Cap index depreciated 0.88 per cent.

Sellers dominated market breadth. On the BSE, 900 shares rose and 1684 shares fell. In the case of Nifty 50, 11 shares advanced and 39 dropped. The top gainers of the day were HDFC Life (up 3.16 per cent), Nestle India (up 2.58 per cent), Kotak Mahindra Bank (up 2.01 per cent), IndusInd Bank (up 1.44 per cent) and SBI Life (up 1.34 per cent). The top losers include Hero MotoCorp (down 6.69 per cent), Bajaj Auto (6.12 per cent), Hindalco (down 5.35 per cent), M&M (down 4.69 per cent) and JSW Steel (down 4.39 per cent).

COVID-19 update

India reported 6,53,717 active cases of COVID-19 infection and 1,19,014 deaths while 71,37,228 patients have been discharged, data showed. Total Covid-19 confirmed cases worldwide was at 4,29,26,013 with 11,52,990 deaths, data showed.

The resurgence of Coronavirus in Europe has continued apace in recent days, with France reporting a record daily rise in new infections on Sunday, Italy ordering bars to close early and shutting public gyms and Spain issuing a nationwide curfew to stem a worsening outbreak. The US also reported a record number of daily Covid-19 infections on Friday with more than 83,000, surpassing its mid-July peaks despite President Donald Trump's insistence that the country is rounding the turn on the virus. US House Speaker Nancy Pelosi said it still was possible to get another round of COVID-19 aid before the November 3, 2020, election.

Meeting in China

The central committee of China's ruling Communist Party, led by Xi, is set to meet in Beijing on October 26-29, 2020, to discuss a proposal for national development for the next five years - from 2021-25. The government sets these economic and social priorities every five years.

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