Sensex Falls Over 750 Points From Day's High; Metal And Realty Stocks Witness Selling

After opening the day on a strong note, Indian share markets witnessed a sharp sell-off during closing hours today and ended lower.

Benchmark indices gave up early gains and slipped into the red during the last hour of trading amid reports of a massive fire that broke out in the Serum Institute of India (SII), the manufacturer of COVIDshield vaccine.

In early trade today, Indian share markets rose in sync with Asian peers and tracking overnight gains in the US market.

At the closing bell, the BSE Sensex stood lower by 167 points. The NSE Nifty ended down by 54 points.

The BSE Sensex tanked 785 points from record-high levels of 50,184 to hit an intra-day low of 49,399.

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

SGX Nifty was trading at 14,643, up by 10 points, at the time of writing.

The BSE Mid Cap index ended down by 0.9%. The BSE Small Cap index ended lower by 0.7%.

Sectoral indices ended on a mixed note with stocks in the consumer durables sector and energy sector witnessing buying interest.

Realty stocks and metal stocks, on the other hand, witnessed selling pressure.

Shares of Ceat and Polycab India hit their respective 52-week highs today.

Bajaj group stocks were in focus today. Bajaj Finance share price and Bajaj Finserv share price rose 4% after announcing their December quarter results, while Bajaj Auto share price gained 3% ahead of its quarterly results announcement.

Asian share markets ended mixed today. As of the most recent closing prices, the Nikkei ended higher by 0.8% while the Hang Seng ended down by 0.1%.

US stock futures are trading in green. Nasdaq Futures are trading up by 56 points (up 0.4%), while Dow Futures are trading up by 10 points (up 0.03%).

The rupee is trading at 72.98 against the US$.

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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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