Sensex Closed 346 Points Lower, Nifty At 10,705.75 Level

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Sensex Closed 346 Points Lower, Nifty At 10,705.75 Level
PTI - 08 July 2020

Mumbai, July 8: Snapping its five-day rising streak, equity benchmark BSE Sensex Wednesday closed 346 points lower after a highly volatile session dragged by losses in Reliance Industries, Infosys and TCS amid weak cues from global peers.

After opening on a positive note, the 30-share index sank 594.26 points from the day's high and settled 345.51 points, or 0.95 per cent, lower at 36,329.01.

The NSE Nifty dropped 93.90 points, or 0.87 per cent, to close at 10,705.75 level.

Bajaj Finance stocks tumbled over four per cent as the top laggard in the Sensex pack, followed by Asian Paints, Bajaj Finserv, HCL Tech, Maruti and Infosys, while IndusInd Bank, SBI, HUL, Tata Steel and ITC were among the gainers.

According to traders, the domestic market followed volatility in global equities due to the rising number of COVID-19 cases from around the world stoked concerns over economic recovery.

The disease has crossed 1.17 crore, with 5.43 lakh deaths across the world. In India, the number of infections has spiked to 7.42 lakh, with 20,642 fatalities.

Meanwhile, Bourses in Shanghai and Hong Kong ended with gains, while Tokyo and Seoul closed in the red. Stock exchanges in Europe began on a negative note.

Further, international oil benchmark Brent crude futures fell 0.16 per cent to US dollar 43.01 per barrel.

On the currency front, the rupee depreciated nine paise to settle at 75.02 against the US dollar.

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