Sensex tanks 600 points; Nifty settles at 11,730

Sensex tanks 600 points; Nifty settles at 11,730

NEW DELHI: Equity indices finished lower on Wednesday with the benchmark BSE sensex plunging 600 points amid weak global sentiment due to surging coronavirus cases and uncertainty over the US presidential election.
The 30-share BSE index tanked 600 points or 1.48 per cent to close at 39,922; while the broader NSE Nifty settled 160 points or 1.34 per cent lower to 11,730.
Major laggards in the sensex pack included HDFC, IndusInd Bank, ICICI Bank, Tech Mahindra, Bajaj Finance and Ultra Cemco with their stocks sliding as much as 3.98 per cent.
On the NSE platform, all the sub-indices finished in red with Nifty Bank, Private Bank and Financial Services slipping as much as 2.31 per cent.
Investor sentiment also turned weak ahead of the futures and options (F&O) expiry.
Broader Asian shares were weaker on worries over surging coronavirus infections in the United States and Europe, which have prompted some European governments to impose new restrictions.
Coronavirus outbreak: Live updates
“The V-shaped economic recovery is seeming less likely and that will have an impact on the markets,” Vinod Nair, head of research at Geojit Financial Services, told news agency Reuters.
Investors were also cautious ahead of the US presidential election on November 3.
(With agency inputs)

Source From : Times Of India

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