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Equity Benchmarks Plunge Amid Loss In Banking, Consumption, Auto Stocks

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Equity Benchmarks Plunge Amid Loss In Banking, Consumption, Auto Stocks
PTI - 14 August 2020

Mumbai, August 14: Domestic equity benchmark Sensex Friday plunged 433 points, tracking heavy losses in banking, consumption and auto stocks amid a sell-off in global markets.

Tanking 663 points from the day’s high, the 30-share BSE index settled 433.15 points or 1.13 per cent lower at 37,877.34.

The broader NSE Nifty slumped 122.05 points or 1.08 per cent to close at 11,178.40 level.

Axis Bank was the top loser in the Sensex pack, falling around three per cent, followed by SBI, M&M, Bajaj Finance, ITC, HDFC Bank, HCL Tech and IndusInd Bank.

On the other hand, Sun Pharma, NTPC, Tata Steel, Titan and Infosys were the gainers.

According to traders, key indices made a u-turn after trading on a positive note in the first-half of the session, following massive losses in European equities.

Stock exchanges in Paris, Frankfurt and London plunged up to twi per cent in early deals.

Bourses in Hong Kong and Seoul ended in the red, while Shanghai and Tokyo settled with gains.

Meanwhile, global oil benchmark Brent crude was trading 0.65 per cent lower at US dollar 44.67 per barrel.

In the forex market, the rupee settled six paise lower at 74.90 against US dollar

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