Indian shares fell sharply on Tuesday to snap a five-day winning streak, as a relentless sell-off in Chinese stocks amid resurgence of Covid-19 cases in the country soured investor sentiment globally.
Markets opened on a positive note before giving up all gains to end deep in the red, tracking weak cues from other Asian and European markets.
The benchmark 30-share S&P BSE Sensex plunged 709.17 points, or 1.26 percent, to settle at 55,776.85, while the broader NSE Nifty index ended down 208.30 points, or 1.23 percent, at 16,663.
Commodity-related stocks were among the worst hit as oil and base metal prices tumbled on concerns over Chinese demand and a hit to global growth.
JSW Steel, Coal India, ONGC, Hindalco and Tata Steel gave up 4-5 percent.
Tata Consumer Products topped the gainers list to climb around 3.7 percent while Maruti Suzuki India, Shree Cement, Cipla and Mahindra & Mahindra rose 1-2 percent.
Oil prices extended their slump to trade below $97 a barrel in European trade while the rupee fell by 6 paise ahead of a key Federal Reserve meeting.
Market Analysis
Sensex, Nifty Snap Five-day Winning Streak
2022-03-15 11:15:01
