You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Nifty tanks nearly 4% on broader selloff

Capital Market 

All the components in Nifty 50 index ended in the red.

The Nifty 50 index slumped 568.2 points or 3.76% to 14,529.15, tracking weak global cues.

The Nifty slipped below its 20-day simple moving average (SMA) placed at 14,956.84. The 50-day SMA is placed at 14,444.89, which will act as a near term support.

ONGC (down 6.64%), Mahindra & Mahindra (down 6.53%), Power Grid Corporation of India (down 6.46%), JSW Steel (down 6.35%), Hero MotoCorp (down 6.33%), GAIL (down 6.23%) and Bajaj Finserv (down 6.19%) were major losers in the Nifty 50 index.

In the broader market, Nifty Mid-Cap 100 (down 1.56%) and Nifty Small-Cap 100 (down 1.14%) declined.

Among sectoral indices, Nifty Financial Service (down 4.93%), Nifty Bank (down 4.78%), Nifty Private Bank (down 4.67), Nifty PSU Bank (down 3.97%), Nifty Auto (down 3.12%), Nifty Media (down 2.58%), Nifty Metal (down 2.7%), Nifty IT (down 2.3%), Nifty Realty (down 1.84%), Nifty Pharma (down 1.76%) and Nifty FMCG (down 1.69%) tumbled.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, February 26 2021. 16:05 IST