Share Market: Sensex plunges by over 300 points due to losses in big stocks like Reliance and Infosys
Sensex falls by over 300 points
Sensex, Nifty today: Amid negative global cues, the major stock index Sensex fell over 300 points in early trade on Wednesday due to losses in large stocks such as Reliance Industries, ICICI Bank and Infosys. During this period, the BSE index based on 30 stocks was trading at 49,726.29, down by 325.15 points or 0.65 percent. Similarly, the NSE Nifty fell 94.60 points or 0.64 percent to 14,720.15.
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ONGC fell the most by two percent in the Sensex. Apart from this, SBI, ICICI Bank, IndusInd Bank, Reliance Industries and Infosys were also included in the falling stocks. On the other hand, Asian Paints, Dr. Reddy’s, Powergrid and Sun Pharma saw a boom. The Sensex rose 280.15 points or 0.56 percent to 50,051.44 in the previous session and the Nifty closed up 78.35 points or 0.53 percent at 14,814.75. According to provisional data of the stock market, foreign institutional investors (FIIs) sold shares worth Rs 108.24 crore on a gross basis on Tuesday.
VK Vijayakumar, chief investment strategist at Geojit Financial Services, said that the sudden rise in the global Covid-19 cases is a cause for concern. Markets had expected a sharp recovery in global GDP growth in 2021, but now growth could be lower than anticipated due to the third wave and limited lockdown in parts of Germany, France and Italy. Meanwhile, global oil benchmark Brent crude was up 0.07 percent at $ 60.83 a barrel.
(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)