Advertisement
Monday, Dec 06, 2021
Outlook.com
Outlook.com

Sensex Ends 87 Points lower; Financial Stocks Drag

The broader NSE Nifty dipped 7.60 points or 0.05 per cent to 14,736.40.

Sensex Ends 87 Points lower; Financial Stocks Drag
Representational Image | AP
Sensex Ends 87 Points lower; Financial Stocks Drag
outlookindia.com
2021-03-22T16:43:38+05:30

Equity benchmark Sensex declined 87 points on Monday, tracking losses in index majors HDFC Bank, ICICI Bank and Reliance Industries amid a weak trend in global markets.

The 30-share BSE index ended 86.95 points or 0.17 per cent lower at 49,771.29. The broader NSE Nifty dipped 7.60 points or 0.05 per cent to 14,736.40.

IndusInd Bank was the top loser in the Sensex pack, shedding around 4 per cent, followed by PowerGrid, ICICI Bank, HDFC Bank, Axis Bank and Bajaj Finance.

On the other hand, Tech Mahindra, TCS, Sun Pharma, Infosys and HCL Tech were among the gainers.

"Domestic equities traded lower as mounting concerns pertaining to rise in Covid-19 cases in various parts of the country and resultant restrictions continued to weigh on investors sentiments," said Binod Modi, Head - Strategy at Reliance Securities.

Further, weak global cues and higher US bond yields kept markets nervous.

However, strong buying was seen in the IT, FMCG and pharma space, while financials and automobiles witnessed selling pressure.

"Notably, investors lapped-up quality midcap and small-cap stocks after recent corrections in these spaces," he added.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo were in the red, while Shanghai ended on a positive note.

Stock exchanges in Europe were also trading on a weak note in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.20 per cent lower at USD 64.40 per barrel.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Bangladesh Liberation War: RSS-Linked Group To Hold Exhibition On 'Bengali Hindu Genocide' In Kolkata

Bangladesh Liberation War: RSS-Linked Group To Hold Exhibition On 'Bengali Hindu Genocide' In Kolkata

BJP's Suvendu Adhikary will be inaugurating the exhibition-cum-seminar to commemorate the Noakhali riots of 1946 and the Bangladesh Liberation War of 1971.

Nagaland:14 Civilians, One Soldier Killed In Firing And Rioting

Nagaland:14 Civilians, One Soldier Killed In Firing And Rioting

Nagaland tension: The mob went on a rampage, demanding immediate action against the security personnel who was involved in the killing of the 13 civilians.

IND Vs NZ, 2nd Test, Live: India 5 Wickets Away From Series Win

IND Vs NZ, 2nd Test, Live: India 5 Wickets Away From Series Win

India are eyeing a big win in the second Test against New Zealand in Mumbai. Follow here Day 4 live cricket scores of IND vs NZ at Wankhede Stadium.

Songs Of Freedom & Redemption: The Unsung Stars Of Hip-Hop

Songs Of Freedom & Redemption: The Unsung Stars Of Hip-Hop

In impoverished neighbourhoods across the world are the true heroes, the unsung stars of hip-hop.

Advertisement