Sensex crashes over 1,000 points, Nifty ends below 11,700-mark; RIL, HDFC Bank top drags

The S&P BSE Sensex crashed 1,066.33 points (2.61 per cent) to end below the 40,000-mark at 39,728.41, while the broader Nifty 50 declined 290.70 points (2.43 per cent) to settle at 11,680.35.

The benchmark equity indices on the BSE and National Stock Exchange (NSE) snapped out of a 10-session gaining streak and ended around 2.5 per cent lower on Thursday driven by weak sentiments in the global market.

The S&P BSE Sensex crashed 1,066.33 points (2.61 per cent) to end below the 40,000-mark at 39,728.41, while the broader Nifty 50 declined 290.70 points (2.43 per cent) to settle at 11,680.35. Both the indices had begun with 0.5 per cent losses and slipped further during the course of trade.

Global markets

Global shares fell on Thursday as governments across Europe tightened restrictions to battle an accelerating second wave of COVID-19 infections, dampening the prospects for economic recovery.

Stocks in Europe fell for a third consecutive session in early trading, taking their queue from weaker markets in Asia overnight, and a Wall Street pulled lower on Tuesday by Amazon and Microsoft as the earnings season gathered momentum.

Analysts said the rise in coronavirus infections across Europe and no sign of a vaccine anytime soon after two high profile propects experienced problems was hitting sentiment.

Hopes for a US package to boost the coronavirus-hit economy before the presidential election next month have also fizzled out after US Treasury Secretary Steven Mnuchin said such a deal would be difficult.

– with inputs from Reuters

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Source: Read Full Article