The equity benchmark Sensex gained 585 points on Thursday after pulling its streak for the fifth consecutive season, causing losses to index majors Infosys, RIL and TCS.
After a rally of nearly 500 points on the first day, the 30-share BSE index gave all gains at 49,216.52, down 585.10 points or 1.17%. The broader NSE Nifty closed at 14,557.85, down 163.45 points or 1.11%.
HCL Tech topped the Sensex pack with 4%, followed by Infosys, Dr. Reddy’s, TCS, Reliance Industries, Tech Mahindra and NTPC.
On the other hand, ITC, Bajaj Auto, M&M, Maruti and Bharti Airtel were among the beneficiaries.
“The domestic stock market fell sharply for the fifth consecutive day after opening with positive global cues,” said Reliance Securities Head Strategy Binod Modi.
The rapid rise in daily COVID-19 cases in India has raised fears about the sustainability of the ongoing rebound in corporate income, he said, adding that rising concerns of fresh economic sanctions may have sent livelihoods to the domestic markets on behalf of the Federal Reserve The excitement of the comment increased.
Following its two-day policy meeting, the US Fed reassured investors that it expects to keep its key interest rate near zero through 2023.
The stock exchange on Wall Street ended with gains in the overnight session.
Elsewhere in Asia, nutrition ended on a positive note in Shanghai, Hong Kong, Tokyo and Seoul.
Europe’s borrowers were also trading higher in mid-season deals.
Meanwhile, global oil benchmark Brent crude was trading down 0.40% at $ 67.73 a barrel.
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