Mumbai, December 21
The Sensex slumped 635 points while the Nifty finished below the 18,200-mark on Wednesday as surging Covid cases in China and concerns over renewed outbreaks in other countries sapped risk appetite.
Declining for the second straight day, the BSE benchmark Sensex tumbled 635.05 points to settle at 61,067.24. The Nifty declined 186.20 points to end at 18,199.10.
IndusInd Bank was the biggest laggard in the Sensex pack, shedding 2.28%, followed by Maruti Suzuki, UltraTech Cement, Bajaj Finserv, ICICI Bank, Tata Motors and Axis Bank.
Sun Pharma topped the index gainers’ chart with a jump of 1.67%. HCL Technologies, Tech Mahindra, TCS, Nestle India, Wipro and Infosys were the other winners, climbing as much as 1.01%.
“Bears continued to cause havoc in the domestic market while Wall Street snapped its losing streak ahead of the release of the US GDP numbers. Though all other sectors bled, pharma stocks were on a high owing to renewed fears of a global Covid outbreak, and IT witnessed bargain buying,” said Vinod Nair, Head of Research at Geojit Financial Services.
Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services — said Covid-related sectors like pharma and diagnostics were in the limelight in Wednesday’s session and are expected to maintain momentum.
In the broader market, the BSE smallcap gauge tumbled 2.18% and midcap index declined 1.40%. — PTI
Sensex falls 635 pts
- The Sensex slumped 635 points while the Nifty lost 186 points to finish below the 18,200-mark
- IndusInd Bank was the biggest laggard, followed by Maruti Suzuki, UltraTech Cement, Bajaj Finserv, ICICI Bank, Tata Motors and Axis Bank
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