Sensex falls 1,066 points on fading US stimulus hopes, Covid-19 surge

The markets fell sharply on Thursday amid a global sell-off in equities as hopes of reaching a stimulus deal before the US presidential election diminished. Also, rising Covid cases and tightening restrictions in Europe clouded sentiment.

Snapping its 10-day winning streak, the Sensex closed at 39,728, down 1,066 points, or 2.6 per cent, while the Nifty fell 291 points, or 2.4 per cent, to end at 11,680. 

It was the biggest single-day fall for the benchmark indices since September 24 and fifth-biggest decline in this financial year.

“The market reacted to the probability of a US stimulus getting pushed beyond the presidential election