For the fourth day in succession, Sensex and Nifty declined thereby causing losses of Rs 7.86 lakh crore to the investors in equity wealth. Notably, all the sectors were in the Red.
The 30-share pack BSE Sensex fell 1170.12 or 1.96 per cent to close at 58,465, while NSE Nifty declined 348.25 points or 1.96 per cent to 17,416.55.
India VIX, the barometer of volatility went up 18 per cent to 17.5 levels. Bharati Airtel, Voda Idea gained 8 per cent after the tariff price hikes. Reliance Industries fell over 4 per cent on cancellation of Aramco deal, PayTm declined 13 per cent. Among the IPO, Go Fashions Idea subscribed 110x so far.
Among the top companies, Bharati Airtel was the topmost gainer, increasing 3.78 per cent JSW Steel, Asian Paints, Power Grid, Hindalco Industries, Grasim Industries and Britannia Industries were the other gainers.
Among the losers in the Nifty pack, Bajaj Finance emerged as the topmost loser, declining 5.60 per cent. Others which ended in the Red were Bajaj Finserv, Tata Motors, Reliance Industries, NTPC, Indian Oil, SBI and Titan Co.
Weaker Global cues like inflation concern and rise in Covid Cases all over the Global coupled with recent domestic developments have dampened the spirits of the investors, experts said.
All sectoral indices closed in the Red. Nifty PSU Bank was the biggest loser, down 4.51 per cent, followed by Nifty Realty which fell 4.14 per cent. However, Nifty and Nifty Auto were the major gainers.
Market breadth was in favor of the losers with 906 stocks ending in the green. In all, 2498 stocks settled with cuts while 195 securities hit the 52-week highs and 81 names touched the 52-week lows. Altogether 360 stocks hit the upper circuit limits while 375 others touched the lower circuit limits.
