Domestic Markets fell more than 50%; Sensex plunged 355 points & Nifty settles above 15,600
- The S&P BSE Sensex dropped 354.89 points or 0.68 per cent at 52,198.51.
- The Nifty 50 index slipped 120.3 points or 0.76 per cent to close at 15,632.10.
Domestic equity markets tumbled on Tuesday, July 20, 2021, tracking weak global cues. The S&P BSE Sensex dropped 354.89 points or 0.68 per cent at 52,198.51. The Nifty 50 index slipped 120.3 points or 0.76 per cent to close at 15,632.10. The Nifty Bank index dropped 663.75 points or 1.89 per cent to 43,415.45.
In the broader markets, the BSE MidCap and SmallCap indices slipped 1.3 per cent and 1.4 per cent, respectively.
Sellers outnumbered buyers. On the BSE, 1,138 shares rose and 2,096 shares fell. On the Nifty 50 index on NSE, 10 shares advanced and 40 shares declined. The top five gainers on Nifty were Asian Paints (up 5.47 per cent), UltraTech Cement (up 1.77 per cent), Hindustan Unilever (up 0.97 per cent), Maruti (up 0.76 per cent) and Grasim (up 0.72 per cent). The top five losers were Hindalco (down 3.72 per cent), IndusInd Bank (down 3.19 per cent), Tata Steel (down 2.72 per cent), NTPC (down 2.59 per cent) and Bharti Airtel (down 2.44 per cent).
The domestic equity market will remain shut on Wednesday on account of Bakri Id.
Total COVID-19 confirmed cases worldwide was at 19,09,23,535 with 40,96,272 deaths. India reported 4,06,130 active cases of COVID-19 infection and 4,14,482 deaths while 3,03,53,710 patients have been discharged, data showed.
Banks in China kept the benchmark loan rate unchanged, indicating that the central bank is continuing to keep policy stable despite a recent surprise move to add liquidity to the financial system. The one-year loan prime rate was kept at 3.85%, the same level it has been since April 2020, according to the People's Bank of China. That follows statements from the central bank that the liquidity added last week did not represent a change of policy, disappointing some in the market who had hoped for more stimulus. The steady rate suggests lenders and the central bank are satisfied with the levels of interbank liquidity and monetary support for now, especially with data last week showing the economic recovery became more balanced in June.
Geopolitical jitters also resurfaced on Monday after the US, the UK and their allies said the Chinese government has been the mastermind behind a series of malicious ransomware, data theft and cyber-espionage attacks against public and private entities - including the sprawling Microsoft Exchange hack earlier this year.