5 Reasons Why Sensex Plunged 562 Points Today

Indian share markets extended losses in the final hour of trade today and ended deep in the red.

Benchmark indices turned volatile, tracking mixed cues from Asian peers as investors weighed the impact of rising Covid-19 cases, and awaited the outcome of the US Federal Reserve's monetary policy.

At the closing bell, the BSE Sensex stood lower by 562 points. Meanwhile, the NSE Nifty ended down by 189 points.

The BSE Sensex breached below the 50,000 levels, while the NSE Nifty broke 14,750-mark.

ITC was among the top gainers today. ONGC, on the other hand, was among the top losers today.

SGX Nifty was trading at 14,770, down by 188 points, at the time of writing.

The BSE Mid cap index and the BSE Small cap index ended down by 2.3% and 2.1%, respectively.

On the sectoral front, energy stocks, power stocks, and realty stocks were among the hardest hit.

Shares of Deepak Fertilizers and KEI Industries hit their respective 52-week highs today.

Asian share markets ended on a negative note today. Both, the Nikkei and the Hang Seng ended lower by 0.1%.

US stock futures are trading mixed today. Nasdaq Futures are trading down by 42 points (down 0.3%), while Dow Futures are trading on a flat note.

The rupee is trading at 72.50 against the US$.

Here are the Top 5 Factors Why Indian Stock Markets Fell Today

Weak Global Cues: Asian stock markets steadied but were under pressure today as investors assessed economic recovery and the risk of a shift in the Fed's dovish policy projections.

US Fed Outcome: Investors turned cautious ahead of the US Fed outcome due later today. While the Fed is expected to keep the rates low, investors are keen to see Fed's commentary on the economy and inflation.

Rising Covid-19 Cases: Rising Covid-19 cases dampened investor sentiments. India's daily coronavirus infections have jumped by 28,903, data from the health ministry showed.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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