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Analysts on Dalal Street blamed valuations behind the correction in the market
Markets lost considerable ground yet again on Monday after a weak start and extended their losing run to the fifth day.
Weak global cues, rising bond yields, amid fears of Covid-19-led lockdown came to haunt the bulls on the Street. Meanwhile, elevated oil prices and stretched valuations also concerned investors as most chose to take the profit off the table and stay on the sidelines following a secular rally in the benchmark in nearly one year.
The BSE barometer Sensex plunged 1,145 points or 2.25 per cent to give up the 50,000 mark and ended at 49,744. Its NSE counterpart Nifty
First Published: Feb 22 2021 | 1:38 PM IST