Sensex tanks 627 factors; Nifty ends under 14,700-mark

Equity benchmark Sensex tanked 627 factors on Wednesday, dragged by losses in index majors HDFC twins, Reliance Industries and Infosys amid a damaging pattern in world markets.
The 30-share BSE index ended 627.43 factors or 1.25 per cent decrease at 49,509.15, and the broader NSE Nifty slumped 154.40 factors or 1.04 per cent to 14,690.70.
The HDFC duo was the highest laggard within the Sensex pack, shedding practically 4 per cent, adopted by PowerGrid, Tech Mahindra, ICICI Bank, ONGC, Kotak Bank, Asian Paints, Infosys and Reliance Industries.

On the opposite hand, ITC, Bajaj Finserv, HUL, SBI and TCS have been among the many gainers.
“Domestic equities traded lower as concerns pertaining to spike in COVID-19 cases and resultant restrictions continued to weigh on investors’ sentiments,” stated Binod Modi, Head – Strategy at Reliance Securities.
Further, rise in US treasury yields and strengthening greenback index aggravated issues, he added.
Financials, particularly non-public banks, witnessed heavy revenue reserving, which together with promoting stress in IT shares dragged benchmarks. However, buyers proceed to lap up FMCG, metals and pharma names.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended within the crimson.

Stock exchanges in Europe have been additionally buying and selling on a damaging notice in mid-session offers.
Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.58 per cent decrease at USD 63.80 per barrel.