Sensex sinks 1,145 factors; Nifty drops beneath 14,700

Image Source : PTI Sensex sinks 1,145 factors; Nifty drops beneath 14,700
Extending its losses for the fifth straight session, fairness benchmark Sensex plummeted 1,145 factors on Monday, monitoring heavy losses in index majors Reliance Industries, HDFC and TCS amid unfavourable cues from world markets. The 30-share BSE index ended 1,145.44 factors or 2.25 per cent decrease at 49,744.32. The broader NSE Nifty sank 306.05 factors or 2.04 per cent to complete at 14,675.70.
Dr Reddy’s was the highest loser within the Sensex pack, shedding round 5 per cent, adopted by M&M, Tech Mahindra, Axis Bank, IndusInd Bank and TCS. On the opposite hand, ONGC, HDFC Bank and Kotak Bank have been the gainers.
“India markets opened on a flattish note tracking mixed Asian market peers with China trading in losses as PBoC kept interest rates unchanged while Japan was trading with marginal gains,” mentioned Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.
During the afternoon session, markets began to float decrease and traded in purple as amid contemporary considerations over the rise within the variety of COVID-19 instances contributed to the fears that the financial impression can be a lot bigger than earlier estimates, he famous.

“Also, the major western markets failed to provide any support as it opened to trade in red with equity investors growing concern about rising bond yields in recent weeks which could hurt high-growth companies reliant on easy borrowing,” Solanki added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended on a unfavourable observe, whereas Tokyo traded with features.
Stock exchanges in Europe have been additionally buying and selling within the purple in mid-session offers.
Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.66 per cent greater at USD 62.55 per barrel. 
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