Sensex Crashes 812 Points On Global Sell-Off; Telecom, Realty And Metal Stocks Bleed

Indian share markets witnessed heavy selling pressure today and ended deep in the red, tracking weak global cues.

Selling pressure was seen after reports stated that some European countries are contemplating to reimpose lockdown measures as the Covid-19 cases see a spike.

As per media reports, British Prime Minister Boris Johnson was pondering the second lockdown in Britain while Spain and other European countries were witnessing fresh restrictions due to the coronavirus pandemic.

At the closing bell, the BSE Sensex stood lower by 812 points. Meanwhile, the NSE Nifty ended down by 254 points.

IndusInd Bank was the top loser in NSE. Meanwhile, the top gainers in NSE today include Infosys and TCS.

SGX Nifty was trading at 11,255, down by 264 points, at the time of writing.

Midcap and smallcap stocks witnessed huge selling pressure today. The BSE Mid Cap index ended down by 3.4%. The BSE Small Cap index tumbled 3.6%.

On the sectoral front, telecom stocks and realty stocks were among the hardest hit. Banking stocks also witnessed huge selling as FinCEN leak named Indian banks for suspicious transactions.

Asian stock markets ended deep in the red. As of the most recent closing prices, the Hang Seng was down 2.1% and the Shanghai Composite stood lower by 0.6%. The Nikkei ended up by 0.2%.

European stock markets opened lower today, hit by worries about a surge in coronavirus cases across the continent.

US stock futures are trading deep in the red indicating a gap-down opening for Wall Street indices.

Nasdaq Futures are trading down by 202 points (down 1.9%), while Dow Futures are trading down by 190 points (down 0.7%).

The rupee is trading at 73.39 against the US$.

Gold prices are trading down by 1.1% at Rs 51,140 per 10 grams.

Despite higher global rates, domestic gold and silver prices edged lower today.

Selling pressure was seen as traders booked profits while waiting for clarity on the US Fed policy.

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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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