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MARKET WRAP: Indices snap 5-day rally, Sensex slips 345 pts; IT, autos fall

All that happened in the markets today

Markets | Coronavirus | Dish TV

SI Reporter  | New Delhi 


After witnessing a choppy trade for the most part of the session, the domestic stock market came under heavy pressure in the last 30 minutes of the trade, thus snapping the five-day gaining streak. The S&P BSE Sensex shed 345.51 points or 0.94 per cent to end at 36,329 levels. NSE's Nifty ended at 10,706, down 94 points or 0.87 per cent. India VIX rose 4 per cent to 26.09 levels. 

Reliance Industries (RIL), Infosys, TCS, and ICICI Bank contributed the most to the Sensex's fall. Bajaj Finance (down over 4 per cent) ended as the biggest loser on the index while IndusInd Bank (up 5 per cent) was the top gainer. 

In the broader market, the S&P BSE MidCap index slipped 0.39 per cent while the S&P BSE SmallCap fell 0.43 per cent. 

Sectorally, Nifty Auto and Nifty Realty declined 2 per cent while the Nifty IT index fell 1.72 per cent. On the other hand, Nifty PSU Bank index rallied over 2 per cent.  

Global markets

Global stocks faltered on Wednesday, losing momentum after a five-day rally, as an increase in new cases in some parts of the world undermined prospects for a quick economic recovery. 

European stocks opened lower while Asian stocks were better off. Chinese stocks extended their gains to seven sessions, with the blue-chip index up 1.6 per cent to its highest close since June 2015. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent, still lower than a four-and-a-half-month high reached the day before.

E-mini futures for the S&P 500 were up 0.1 per cent.

In commodities, oil prices were broadly stable, recouping earlier losses after rising U. crude stockpile data and an increase in infections in the United States cast doubts over a swift pickup in oil demand.

(With inputs from Reuters)


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