Sensex Tanks 531 Points; Reliance Industries & IndusInd Bank Fall 5%

Indian share markets witnessed huge selling pressure today and failed to hold on to their opening gains as profit booking and weakness across all sectors erased gains.

Benchmark indices extended losses in the afternoon session, with shares of Reliance Industries plunging as much as 6% after the announcement of its December quarter results.

Selling pressure was also seen after the Indian army said Indian and Chinese troops were involved in a "minor face-off" last week in a disputed stretch of their shared border in the eastern Himalayas.

At the closing bell, the BSE Sensex stood lower by 531 points. The NSE Nifty ended down by 133 points.

Bajaj Auto was among the top gainers today. Reliance Industries, on the other hand, was among the top losers today.

SGX Nifty was trading at 14,300, down by 72 points, at the time of writing.

Both, the BSE Mid Cap index and the BSE Small Cap index ended down by 1.1%.

Barring metal and healthcare stocks, all sectoral indices ended on a negative note with stocks in the energy sector, oil & gas sector and IT sector witnessing maximum selling pressure.

Tata Consultancy Services (TCS) today surpassed Reliance Industries to become the country's most valued firm by market capitalization.

Shares of Apollo Hospitals hit their 52-week high today after the company said it has raised Rs 11.7 billion via qualified institutional placement (QIP) issue.

Asian share markets ended higher today amid hopes for recovering economies slammed by the pandemic, as attention turned to upcoming company earnings.

As of the most recent closing prices, the Nikkei ended up by 0.7% while the Hang Seng ended higher by 2.5%.

US stock futures are trading mixed. Nasdaq Futures are trading up by 125 points (up 0.9%), while Dow Futures are trading down by 13 points (down 0.1%).

The rupee is trading at 72.94 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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