Indian shares fell for the third straight session Thursday, with financials and automakers leading the market fall on the back of surging crude oil prices and rising bond yields.
The S&P BSE Sensex gyrated in an intra-day range of more than 700 points before ending the session down 379.14 points, or 0.73 percent, at 51,324.69.
The broader NSE Nifty index also fluctuated between a high of 15,250.75 and a low of 15,078.05 before settling at 15,118.95, down 89.95 points or 0.59 percent, from its previous close.
Shree Cement, Kotak Mahindra Bank, Mahindra & Mahindra, Tata Motors and Bajaj Finance all fell over 2 percent, while IOC, BPCL, GAIL and ONGC surged 4-8 percent as Brent crude oil surged above $65 a barrel, a level not seen since last January.
Dixon Technologies jumped 4 percent after the Union Cabinet approved Production Linked Incentive (PLI) norms for the telecom and network equipment manufacturing in order to boost local manufacturing of the components.
Central Bank of India, Indian Overseas Bank, Bank of Maharashtra and Bank of India all hit their upper circuit limits after Reuters reported that these could be part of government’s privatization drive next fiscal year.
Sensex, Nifty Extend Losses For Third Day
2021-02-18 11:23:55
