Indian shares ended deep in the red for the second day running on Thursday as investors grappled with the economic fallout of rising Covid-19 cases both at home and abroad, with a third wave of the Covid pandemic now advancing swiftly across much of Europe.
Heightened vitality due to F&O expiry, a clampdown by regulators on tech companies in China and the threat of Chinese stocks being kicked off U.S. exchanges also weighed on markets.
The benchmark 30-share BSE Sensex ended the session down 740.19 points, or 1.51 percent, at 48,440.12, while the broader NSE Nifty index settled at 14,324.90, down 224.50 points, or 1.54 percent, from its previous close.
Hindustan Unilever, Bharti Airtel, Coal India, Maruti Suzuki India and IOC fell 3-4 percent in the Nifty pack, while Tata Steel outperformed with a 2.9 percent gain.
Larsen & Toubro, HDFC, ICICI Bank and Dr Reddy’s Laboratories all saw modest gains.
While the renewed surge in Covid-19 cases in many parts of India is a matter of concern, the revival of economic activity should continue unabated going forward, Reserve Bank of India (RBI) Governor Shaktikanta Das said at the India Economic Conclave.
“Our preliminary analysis shows that next year’s estimated growth rate at 10.5 percent would not require a downward revision,” Das said.
Sensex Ends 740 Points Lower; Nifty Ends At 14,325
2021-03-25 11:11:32
