Millennium Post

Sensex falls 335 pts; Nifty gives up 11,150 mark

Rupee depriciates by 4 paise to close at 74.84 against US dollar

Mumbai: The Sensex stumbled for the second straight day on Thursday, largely in tandem with global markets, as a dovish stance by the US Federal Reserve failed to assuage investor concerns over mounting COVID-19 cases and faltering growth.

The 30-share BSE benchmark frittered away initial gains to close 335.06 points or 0.88 per cent lower at 37,736.07.

On similar lines, the broader NSE Nifty tumbled 100.70 points or 0.90 per cent to end at 11,102.15.

IndusInd Bank was the top laggard in the Sensex pack, tumbling 5.62 per cent, followed by HDFC, Axis Bank, PowerGrid, SBI, Bajaj Finserv and Bharti Airtel.

On the other hand, Sun Pharma, Maruti, Infosys and Reliance Industries were among the gainers, climbing as much as 3.44 per cent.

Markets also turned choppy on the expiry of July derivatives and a weak trend in the rupee, traders said.

On the domestic front, Prime Minister Narendra Modi on Wednesday asked bankers to take a relook at their practices to ensure stable credit growth and not to turn down bankable proposals on apprehensions of prospective bad loans.

During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the Prime Minister assured them that the government is ready to take all steps to support the financial sector.

BSE telecom, oil and gas, finance, bankex, utilities and power indices fell up to 2.25 per cent, while healthcare, IT and teck ended higher.

Broader BSE mid-cap and small-cap indices fell up to 0.43 per cent.

Global oil benchmark Brent crude was trading 1.27 per cent lower at USD 43.53 per barrel.

In the forex market, the rupee fell 4 paise to close at 74.84 against the US dollar.

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