Sensex Plunges 746 Points; Banking & Metal Stocks Bleed

Indian share markets witnessed huge selling pressure today and extended losses as the session progressed, dragged down by heavy selling in metal and banking stocks.

At the closing bell, the BSE Sensex stood lower by 746 points. The NSE Nifty ended down by 218 points.

Bajaj Auto was among the top gainers today. Axis Bank, on the other hand, was among the top losers today.

SGX Nifty was trading at 14,375, down by 265 points, at the time of writing.

The BSE Mid Cap index ended down by 1.2%. The BSE Small-Cap index ended lower by 1%.

Sectoral indices ended on a negative note with stocks in the banking sector, finance sector and metal sector witnessing maximum selling pressure.

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

Asian stock market fell today as investors took a breather following a strong week for global equities. As of the most recent closing prices, the Nikkei retreated from 30-year peaks and fell 0.4% while the Hang Seng ended down by 1.6%.

US stock futures slipped today, signaling a muted end to a strong week on Wall Street as investors awaited data on how the economy performed at the start of 2021.

Nasdaq Futures are trading down by 76 points (down 0.5%), while Dow Futures are trading down by 238 points (down 0.8%).

European stock markets fell today, hit by tighter travel restrictions in the eurozone and weak UK retail sales numbers, while investors awaited the latest batch of business activity data to gauge the pace of recovery from the coronavirus crisis.

The rupee is trading at 72.95 against the US$.

Gold prices are trading down by 0.5% at Rs 49,224 per 10 grams.

Speaking of stock markets, note that the BSE Sensex crossed the historical milestone of 50,000 yesterday as benchmark indices scaled fresh lifetime highs on the back of favorable global cues.

The BSE Sensex rose from a 40,000-mark hit on October 8, 2020, to 50,000 in just 74 sessions. Developments on the vaccine front, a change of guard in the United States, FII buying, and recovery in economic growth are the key factors behind this rally.

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