X
X
Top
ADVERTISEMENT

Sensex tanks 600 pts to end at 39,922; Nifty falls 160 pts to 11,730

Sensex tanks 600 pts to end at 39,922; Nifty falls 160 pts to 11,730
x

Sensex tanks 600 pts to end at 39,922; Nifty falls 160 pts to 11,730

Highlights

Equity benchmarks on Wednesday, October 28, 2020, witnessed losses of around one and a half per cent amid negative global cues. The key domestic indices fell mainly due to a plunge in Banking, Finance and Metal sector stocks.

Equity benchmarks on Wednesday, October 28, 2020, witnessed losses of around one and a half per cent amid negative global cues. The key domestic indices fell mainly due to a plunge in Banking, Finance and Metal sector stocks.

The equity benchmark S&P BSE Sensex fell 599.64 points, or 1.48 per cent, to settle at 39,922.46. The Nifty 50 lost 159.80 points, or 1.34 per cent, to end at 11,729.60, while the Nifty Bank lost 537 points, or 2.17 per cent, and settled down at 24,232.50.

The broader market at BSE also ended down but outperformed the Sensex. The BSE MidCap index fell 0.93 per cent and the BSE SmallCap index lost 0.76 per cent.

The market breadth was weak. On the BSE, 1006 shares rose and 1626 shares fell. Similarly, 9 shares advanced in Nifty 50 and 41 declined. The major gainers on the Nifty block were Bharti Airtel (up 3.38 per cent), UPL (up 2.80 per cent), M&M (up 1.16 per cent), Eicher Motors (up 1.12 per cent) and Hero MotoCorp (up 0.86 per cent). The losers were HDFC (down 3.50 per cent), IndusInd Bank (down 3.18 per cent), ICICI Bank (down 3.16 per cent), Adani Ports (down 3.13 per cent) and Dr Reddy's (down 3.13 per cent).

COVID-19 Update

India reported 6,10,803 active cases of COVID-19 infection and 1,20,010 deaths while 72,59,509 patients have been discharged, data showed. Total COVID-19 confirmed cases worldwide were at 4,39,06,632 with 11,66,193 deaths, data showed.

New Covid-19 cases, hospitalisations and deaths have reportedly continued to surge across Europe and the US in recent days, prompting further restriction measures in many countries. Reports have suggested that France could be heading for a national lockdown in a bid to contain the resurgent outbreak. Mainland China also reported its highest number of daily new cases for more than two months on Wednesday.

US Package & drop in Consumer Confidence

Senate Majority Leader Mitch McConnell adjourned the Senate until November 9, further diminishing the prospects of a deal being reached before the election. US consumer confidence dipped slightly in October as a new wave of Coronavirus cases appeared across the country. The Conference Board reported Tuesday that its consumer confidence index fell to a reading of 100.9, from 101.8 in September but still remains well below pre-pandemic levels. This month's moderate decline follows a sharp rise in September.

Show Full Article
Print Article
Subscribed Failed...
Subscribed Successfully...
Next Story
More Stories