Sensex, Nifty Fall Most In Over A Month; Broader Markets Drag
Biggest Drop In Over A Month
Indian equities fell the most in over a month as a rapidly rising second wave of the coronavirus across the country acted as the key deterrent to market sentiment.
The S&P BSE Sensex fell 1,707 points or 3.44% to end at 47,883 while the NSE Nifty 50 index shed 524 points or 3.53% to end at 14,310. Both benchmark indices fell the most since February 26 this year when a rise in global bond yields sparked a wave of panic selling among investors. Both Sensex and Nifty also ended lower for the second straight day. 46 out of the 50 index stocks ended the day with losses.
All sectoral indices ended the day with losses. Most of them saw their biggest single-day drop since May last year. The PSU Bank index was the top sectoral laggard, ending 9.3% lower.
Other major laggards in today's session were the Nifty Media index (down 8.1%), Nift Realty index (down 7.5%) and the Nifty Metal index (down 6.1%). The Nifty Auto index also saw losses of over 5% in today's session.
The Nifty FMCG index fell 2% while the I.T. index declined 2.3% ahead of TCS' fourth quarter results.
Broader markets saw sharper cuts in today's session. The Nifty Midcap index fell 5.7%, the most in over a year while the Smallcap index too fell 5.6% in today's session.
The India Volatility Index rose the most in over a month, ending 16.2% higher at 22.99.
1,740 stocks on the NSE posted losses while 241 ended higher in today's session.