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Sensex tanks 740 points as COVID-19 cases go up


Indian capital markets extended their decline for the second day on Thursday with the Sensex falling 740 points or 1.5 per cent to close at 48,440. Nifty too declined by 224.5 points or 1.54 per cent and ended the day at 14,324 points.

The decline in the benchmark indices is attributed to the surge in COVID-19 cases and weakness in global markets along with the monthly expiry of the derivative contracts.

Notably, the health ministry on Thursday informed that 53,476 fresh cases of COVID-19 have been reported in India in the past 24 hours. It is the highest single-day surge in cases in 2021. The addition of the fresh cases has taken the COVID-19 case tally past 1.17 crore.

The ministry also informed that over 5.31 crore people have been vaccinated so far. Of it, 23.03 lakh people were vaccinated on Wednesday.

Gainers & losers

Maruti Suzuki, Bharti Airtel, Hindustan Unilever, Bajaj Finance, ONGC, UltraTech Cement, and Reliance Industries were the top laggards on the Sensex, while Indian Oil Corporation, Hero MotoCorp, Coal India, Eicher Motors, and Britannia were the additional losers on the Nifty. These stocks were down between 3 per cent and 4 per cent.

Also Read: Second wave of COVID-19 in India to continue for 100 days, cases to peak in April: SBI report

On the upside, Tata Steel, ICICI Bank, L&T, HDFC, and Dr Reddy’s Labs were the top gainers on the indices, up in the range of 0.35 per cent to 3 per cent.

Sectoral performances

The overall market breadth remained titled towards bears with 2,224 stocks ending the day in the red as against just 684 stocks that ended in the green on the BSE.

If sectoral performance is taken into consideration, the Nifty PSU Bank index skidded 2.5 per cent on the NSE, sliding over 5.5 per cent in two days. Meanwhile, the Nifty Realty, Media, and Auto indices dropped 2 per cent each. Other sectoral indices ended up to 1.5 per cent lower, barring Nifty Metal index, up 0.02 per cent.


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