Mumbai: Equities benchmark Sensex tumbled more than 200 points in the early trading session on Thursday, following losses in the Infosys, ICICI Bank and M&M index levels amid negative indications from local and global markets.
After opening more than 200 points higher, the 30-share BSE index reversed all its gains to trade 216.73 points or 0.45 percent lower at 48,327.33.
Similarly, the broader NSE Nifty declined by 62.55 points or 0.43 percent to 14,442.25.
Infosys was the best loser in the Sensex package with more than 3 percent, followed by M&M, IndusInd Bank, Maruti, Bajaj Finance, UltraTech Cement and ICICI Bank.
On the other hand, ONGC, Sun Pharma, Dr Reddy and Kotak Bank were among the winners.
In the previous session on Tuesday, Sensex closed 660.68 points or 1.38 percent higher at 48,544.06, and Nifty rose 194 points or 1.36 percent to end at 14,504.80.
Foreign institutional investors were net sellers in the capital market as they traded shares worth $ 730.81 million on Tuesday, according to preliminary exchange data.
Stock exchanges remained closed on Tuesday due to Dr Baba Saheb Ambedkar Jayanti.
‘Amid the negative of a disturbing increase in COVID-19 in this case, there is a relief from the market perspective that there is no large-scale exclusion, ‘says UK Vijayakumar, Chief Investment Officer of Geojit Financial Services.
However, the large restriction of activity in the economically important state of Maharashtra is likely to have an impact on growth and earnings. The market knows this, but what is unknown is how long it will take and how quickly we can get ahead of the infection cases, he added.
Elsewhere in Asia, the stock market in Shanghai, Hong Kong and Tokyo was in the red in the middle of the sessions, while Seoul traded on a positive note.
Shares on Wall Street also ended negative in overnight trading after the Federal Reserve’s Beige Book survey on economic activity indicated a moderate increase in economic activity to start the year with a slight rise in inflation.
Meanwhile, the international oil benchmark of Brent crude traded $ 66.58 a barrel.
Source: Telangana Today