Gujarat Exclusive > Sensex down 674 points, Nifty ends at 8,084 amid heavy selling in financial stocks

Sensex down 674 points, Nifty ends at 8,084 amid heavy selling in financial stocks

0
258

Continuing their downward trend, the benchmark indices settled with over 2 per cent loss on Friday as coronavirus cases showed no signs of abating. Globally, confirmed cases surpassed 1 million on Thursday with more than 52,000 deaths. Back home, an ongoing 21- day lockdown has already brought the economy to a standstill.

The S&P BSE Sensex ended at 27,591, down 674 points or 2.39 per cent amid heavy selling in financial stocks such as ICICI Bank (down 7.5 per cent), HDFC (over 5 per cent), HDFC Bank (down 2 per cent), and Axis Bank (down over 9 per cent). The other major contributors to the index’s loss were Infosys, TCS, and Asian Paints. They all fell in the range of 3-5 per cent.

India VIX cooled-off over 8 per cent to 55.01 levels. On the other hand, the Nifty50 index ended at 8,084, down 170 points or over 2 per cent. In the broader market, the S&P BSE MidCap index declined over 1 per cent lower at 10,219 whereas the S&P BSE SmallCap closed at 9,409, down over 1 per cent.

Among sectors, pharma stocks continued to rally. The Nifty Pharma index rose around 5 per cent to 7,362 levels with 8 out of 10 constituents advancing. Nifty FMCG index, too, ended in the green, up 0.7 per cent at 26,538 levels.

On a weekly basis, the S&P BSE Sensex lost 7.46 per cent, while the Nifty50 slipped 6.65 per cent.

7 fresh cases of COVID-19 in Ahmedabad push Gujarat’s COVID-19 tally to 95, death toll 8