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MARKET WRAP: Sensex tanks 540 pts in broad-based sell-off, India VIX up 5%

All that happened in the markets today

Markets | Reliance Industries | Angel Broking

SI Reporter  | New Delhi 


The domestic equity market slipped over 1 per cent on Monday amid across-the-board sell-off and weak global cues. 

The S&P BSE Sensex tumbled 540 points, or 1.3 per cent to settle at 40,145.50 levels and the Nifty50 index ended at 11,768, down 163 points, or 1.36 per cent. Bajaj Auto (down 6 per cent), M&M (down 4.5 per cent), and RIL (down nearly 4 per cent) were the top losers on Sensex. 
On the other hand, IndusInd Bank gained over 1 per cent on a report that Kotak Mahindra Bank was exploring an all-stock takeover of the bank. Nestle (up around 2.5 per cent) ended as the biggest gainer on the index.

In the broader market, the S&P BSE MidCap index tumbled 1.77 per cent while the S&P BSE SmallCap index fell 0.88 per cent. 

On the NSE, all the sectoral indices ended in the red. 

Global markets

European stocks sank on Monday, as Italy and Spain imposed fresh restrictions to control a resurgence in coronavirus cases, while shares in German heavyweight SAP slumped 20 per cent after it cut its 2020 outlook.

The pan-European STOXX 600 index tumbled over 1 per cent, with risk appetite globally sapped by worries over US stimulus progress and the presidential election.

China stocks, too, ended lower, dragged down by the consumer sector.

In commodities, oil prices fell 3 per cent on Monday, extending last week’s losses as growing cases of Covid-19 in the United States and Europe raised worries about crude demand, while the prospect of increased supply also hurt sentiment.

(With inputs from Reuters)


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