MARKET: Sensex tumbles 600 pts on surging Covid cases; Nifty ends at 11,730

All that happened in the markets today

Image SI Reporter New Delhi

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

The domestic equity market tumbled around 1.5 per cent on Wednesday as fears of strict lockdown measures in many European countries spooked investors after coronavirus cases surged at a rapid pace. Selling was witnessed across-the-board with financial stocks taking the biggest knock. The gauge for volatility, India VIX, rose nearly 5 per cent to 23.2 levels. READ MORE

The S&P BSE Sensex tanked 600 points to 39,922 levels while NSE's Nifty ended at 11,730, down 160 points, or 1.34 per cent.

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

In the broader market, the S&P BSE SmallCap index ended 0.76 per cent lower at 14,976 levels while the S&P BSE MidCap index ended at 14,814, down 0.93 per cent.

Global markets

Shares around the world tumbled on Wednesday as coronavirus infections grew rapidly in Europe and the United States, igniting fears of possible strict lockdown measures that could damage already fragile economic recoveries.

German shares slumped 3.2 per cent to their lowest since June, after a report Chancellor Angela Merkel wanted to close restaurants and bars to curb new infections.

In Europe, automakers and banks led the losses, falling 4.2 per cent and 3.9 per cent, respectively.

Wall Street futures lost 1.3-1.6 per cent.

(With inputs from Reuters)

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First Published: Oct 28 2020 | 07:38 AM IST

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