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MARKETS: Sensex slips 552 pts on weak global cues, rise in Covid-19 cases

All that happened in the markets today

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Markets | Coronavirus | Reliance Industries Ltd

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

stocks, shares, market, sensex, nifty, BSE, INVESTORS, BROKERS
NSE's nifty ended at 9,813.70, down 159 points or 1.6 per cent. India VIX surged over 6 per cent to 32.71 levels.
Benchmark indices ended with over 1.5 per cent cut on Monday, on weak global cues and a rapid rise in Covid-19 cases. 

The S&P BSE Sensex shed 552 points or 1.63 per cent to end at 33,228.80. During the day, the index hit a low of 32,923.74 against Friday's close of 33,780.89. HDFC Bank, ICICI Bank, HDFC, and ITC contributed the most to the index's fall while Reliance Industries (RIL) emerged as an outlier. The stock hit a fresh lifetime high of Rs 1,626.70 during the day, before settling at Rs 1,615, up 1.65 per cent. The company's partly-paid shares issued under rights issue made a strong stock market debut today, surging 10 per cent to Rs 710.65 on the NSE, in the early morning trade. READ MORE

NSE's Nifty ended at 9,813.70, down 159 points or 1.6 per cent. India VIX surged over 6 per cent to 32.71 levels. 

The broader market, however, fared better than the frontline indices. The S&P BSE SmallCap index ended unchanged at 11,844.85 while the S&P BSE MidCap index lost over a per cent to 12,455 levels. 

Sectorally, PSU Bank and media stocks gained in the trade while others ended in the red. The Nifty PSU Bank index rallied nearly 1.5 per cent to 1,371.50 levels while Nifty Media ended at 1,298.80, up nearly a per cent. 

On the other hand, Nifty Bank slipped over 3.5 per cent to 19,912.90 levels while Nifty Private Bank index fell nearly 4 per cent to 10,946.30. 

Global markets

Fears that a second wave of COVID-19 infections is under way sent jitters across global on Monday with stocks and oil under pressure while investors bought into safe havens such as German government debt.

The pan-European STOXX 600 fell 2.5 per cent with all sectors and regional trading deep in the red after losses accelerated in the final hours of trading in Asia.

Earlier, Japan's Nikkei fell 3.5 per cent and South Korean shares tumbled 4.8 per cent. Futures for the S&P 500 also extended losses, shedding 2.9 per cent.

Beijing reported its second consecutive day of record numbers of virus cases and hospitalisations rose in some US states. 

In commodities, oil prices fell on Monday as new infections hit China, Japan and the United States, adding to concerns that a resurgence of the virus could weigh on the recovery of fuel demand.

Brent crude was down 93 cents, or 2.4 per cent, at $37.80 a barrel at the time of writing of this report. US West Texas Intermediate crude was down $1.33, or 3.7 per cent, at $34.93 a barrel.

(With inputs from Reuters)

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