Sensex drops 290 points on surge in virus, US-China worries; Nifty below 10,750
The 30-share pack Sensex, HCL Tech was the biggest gainer, up 1.15 per cent at Rs 609, followed by Infosys, ITC, Nestle India, TCS and Asian Paints that gained in the range of 0.1-1 per cent.
By ETMarkets.com | Updated:
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NEW DELHI: Tracking overnight cues from US equities and Asian peers this morning, domestic equity indices dipped in in Tuesday's session as a new round of restrictions to check coronavirus and an evolving tension between the US and China spooked investors.
Large manufacturers and retailers of consumer goods, smartphones and automobiles said sales have declined by about a third in the past week as localised lockdowns have been rolled out across the country.
At 09.21 am, BSE flagship Sensex was down 286 points or 0.78 per cent to 36,407 while NSE benchmark Nifty shed 77 points or 0.72 per cent to 10,725. IT and pharma names saw some demand while metal, banks and auto stocks were under pressure.
In the 30-share pack Sensex, HCL Tech was the biggest gainer, up 1.15 per cent at Rs 609, followed by Infosys, ITC, Nestle India, TCS and Asian Paints that gained in the range of 0.1-1 per cent.
IndusInd Bank was the biggest loser in the pack, down 2.83 per cent followed by HDFC, Bajaj Finserv, Axis Bank, Bajaj Finance and Maruti Suzuki.
Broader market indices were trading in-line with their headline peers with Nifty Smallcap falling 0.87 per cent while Nifty Midcap dropped 0.64 per cent. Broadest index on NSE, Nifty 500 was down 0.62 per cent.
Globally, Asian stock markets slipped, oil sagged and a safety bid supported the dollar as simmering Sino-US tensions and fresh coronavirus restrictions in California kept a lid on investor optimism as earnings season gets underway.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.2 per cent. Japan's Nikkei retreated from a one-month high touched on Monday, dropping 0.8 per cent. A firm dollar put pressure on the Aussie and kiwi.
The moves came after a selloff on Wall Street that followed reopening rollbacks in California, where Governor Gavin Newsom ordered bars closed and restaurants and movie theatres to cease indoor operations.
S&P 500 futures were flat in Asia after the index lost 0.9 per cent on Monday.
Large manufacturers and retailers of consumer goods, smartphones and automobiles said sales have declined by about a third in the past week as localised lockdowns have been rolled out across the country.
At 09.21 am, BSE flagship Sensex was down 286 points or 0.78 per cent to 36,407 while NSE benchmark Nifty shed 77 points or 0.72 per cent to 10,725. IT and pharma names saw some demand while metal, banks and auto stocks were under pressure.
In the 30-share pack Sensex, HCL Tech was the biggest gainer, up 1.15 per cent at Rs 609, followed by Infosys, ITC, Nestle India, TCS and Asian Paints that gained in the range of 0.1-1 per cent.
IndusInd Bank was the biggest loser in the pack, down 2.83 per cent followed by HDFC, Bajaj Finserv, Axis Bank, Bajaj Finance and Maruti Suzuki.
Broader market indices were trading in-line with their headline peers with Nifty Smallcap falling 0.87 per cent while Nifty Midcap dropped 0.64 per cent. Broadest index on NSE, Nifty 500 was down 0.62 per cent.
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Sectoral matrix on the NSE was mixed with Nifty IT rising 0.54 per cent followed by marginal gains in pharma and FMCG. Nifty Auto, Nifty Metal, Nifty Media, and Nifty Bank indices dropped over a per cent each.Globally, Asian stock markets slipped, oil sagged and a safety bid supported the dollar as simmering Sino-US tensions and fresh coronavirus restrictions in California kept a lid on investor optimism as earnings season gets underway.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.2 per cent. Japan's Nikkei retreated from a one-month high touched on Monday, dropping 0.8 per cent. A firm dollar put pressure on the Aussie and kiwi.
The moves came after a selloff on Wall Street that followed reopening rollbacks in California, where Governor Gavin Newsom ordered bars closed and restaurants and movie theatres to cease indoor operations.
S&P 500 futures were flat in Asia after the index lost 0.9 per cent on Monday.
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