Sensex Ends 598 Points Lower, Nifty Settles Below 15,100-Mark; HDFC And JSW Steel Top Losers

Indian share markets witnessed huge selling during closing hours today and ended their day deep in the red.

Benchmark indices broke their three-day winning streak today on the back of selling seen in the metal stocks.

At the closing bell, the BSE Sensex stood lower by 598 points (down 1.2%). Meanwhile, the NSE Nifty ended down by 164 points (down 1.1%).

UltraTech Cement was among the top gainers today.

JSW Steel and HDFC, on the other hand, were among the top losers today.

SGX Nifty was trading at 15,103, down by 191 points, at the time of writing.

The BSE Midcap index and the BSE Smallcap index ended up by 0.5% and 0.8%, respectively.

On the sectoral front, metal stocks, banking stocks, and finance stocks were among the hardest hit.

Shares of UltraTech Cement and Dilip Buildcon hit their respective 52-week highs today.

US stock futures are trading lower today indicating a weak opening for Wall Street indices with the Dow Futures trading down by 87 points (down 0.3%).

Gold prices for the latest contract on MCX are trading down by 0.3% at Rs 44,835 per 10 grams.

The rupee is trading at 72.85 against the US$.

Speaking of the rupee, Brijesh Bhatia, Research Analyst at Equitymaster, discusses why he thinks there is a possibility of the rupee falling to Rs 80 against the dollar in 2021, in his latest video for Fast Profits Daily.

In the latest developments from the IPO space...

Hyderabad-based MTAR Technologies which opened its Rs 5.96-billion initial public offering (IPO) for subscription yesterday was subscribed 8.6 times today.

The offer received bids for 6.2 crore equity shares against the IPO size of 72.60 lakh equity shares. The IPO size has been reduced to 72.60 lakh shares from over 1.03 crore shares after the closing of the anchor book through which the company raised Rs 1.7 billion.

The portion reserved for retail investors has been subscribed 14 times and that of non-institutional investors 6.2 times, while the qualified institutional buyers have put in 77% bids against their reserved portion.

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