The frontline indices on the BSE and National Stock Exchange (NSE) snapped out of a four-day winning streak and ended around 1 per cent lower on Thursday amid weak global cues following a hawkish stance by the US Federal Reserve and sharp spike in daily Covid cases in the country.
The S&P BSE Sensex crashed 621.31 points (1.03 per cent) to end below the 60,000-mark at 59,601.84 while the Nifty 50 fell 179.35 points (1.00 per cent) to settle at 17,745.90. Earlier in the day, the indices had begun on a negative note and slipped over 1.5 per cent with the Sensex hitting an intraday low of 59,290.58 and the Nifty slipping to 17,655.55.
On the Sensex, Tech Mahindra, Ultratech Cement, Reliance Industries (RIL), HCL Technologies, Housing Development and Finance Corporation (HDFC) and HDFC Bank were the biggest laggards of the day. On the other hand, IndusInd Bank, Bharti Airtel, Maruti Suzuki India, Bajaj Finance, Titan Company and Axis Bank were the top gainers.
Among sectoral indices on NSE, the Nifty IT index fell 1.55 per cent weighed by Tech Mahindra and HCL Technologies. Likewise, the Nifty Realty index slipped 1.47 per cent dragged by Brigade Enterprises and Macrotech Developers. On the other hand, the Nifty Auto index rose 0.53 per cent driven by gains in Bharat Forge and Bajaj Auto.
Domestic stock markets on Wednesday rallied for the third day in a row in the new year, despite the rising Covid cases in the country.
With a 367-point rise on Wednesday, the Sensex has rallied by 1,967 points in the last three days to close above the 60,000 level at 60,223.15. Led by bank stocks, the NSE Nifty gained 120 points at 17,925.25 during the day.
Foreign portfolio investors (FPIs), who were sellers in the last three months, have invested Rs 3,450 crore in the last three days, indicating they have faith in Indian markets.
