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Sensex shed 1,316pts from day's high, ends 196pts down

The broader markets outperformed and managed to end with gains despite the selling pressure in frontline stocks. Debutant Go Fashion ended with a spectacular 81 per cent gain

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A V Rajwade 

EVENT HIGHLIGHTS

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The key benchmark indices, reversed course in intra-day deals as global cues turned bearish after US pharma major Moderna warned that Covid-19 shots seemed less effective against Omicorn. The Dow Jones futures tumbled 1.4 per cent (497 points) and Nasdaq futures were down 90 points as of 03:20 PM IST.

Elsewhere, the key European - the FTSE 100, DAX 30 and CAC 40 declined 1.3 per cent each. Taking cues from the same, the BSE Sensex which had rallied to a high of 58,184 (up 923 points at the day's high), tumbled to a low of 56,868 - down 1,316 points from the day's high owing to the late sell-off. The Sensex eventually settled with a loss of 196 points at 57,065.

The NSE Nifty tanked 394 points from its high of 17,325 to a low of 16,931. The Nifty 50 index finally ended with a loss of 71 points at 16,983.

Despite paring gains, the broader outperformed the benchmark indices in trade on Tuesday on the back of selective buying. The BSE Midcap index gained 0.3 per cent, while the Smallcap index rallied 1.5 per cent. The overall breadth was marginally positive, as 1,772 stocks advanced on the BSE, while 1,478 declined.

Market Dashboard: Snapshot of key movers and shakers in trade today


Debutant (India) ended Day 1 of trade with a smart gain at Rs 1,253, up 81 per cent from its issue price of Rs 690 per share. The stock touched a high of Rs 1,341 and a low of Rs 1,144 in trades today. READ MORE

Tata Steel was the major loser among the Sensex 30 stock, it plunged nearly 4 per cent to Rs 1,072. Kotak Bank too dropped nearly 3 per cent to Rs 1,962. Bajaj Auto, Mahindra & Mahindra, Bharti Airtel, Reliance Industries and IndusInd Bank were the other major losers.

 

PowerGrid Corporation, however, was the top gainer up 3.3 per cent at Rs 206.50. Titan, Bajaj Finserv, Nestle India, Bajaj Finance, Infosys and Axis Bank were the other notable gainers.

Reliance Capital was locked at the 5 per cent lower circuit at Rs 18.10 on the BSE after the Reserve Bank of India (RBI) on Monday superseded the board of industrialist Anil Ambani-promoted Reliance Capital, a non-banking financial company (NBFC), owing to defaults and governance issues. READ MORE

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