NEW DELHI: Equity indices ended lower on Monday with the benchmark BSE Sensex sinking more than 800 points in the middle of a global sales wave.
The 30-share BSE index finished 812 points or 2.09 percent lower at 38,034; while the broader NSE Nifty came in at 254 points or 2.21 percent lower at 11,250.
IndusInd Bank, Bharti Airtel, Tata Steel, ICICI Bank, M&M, Maruti and Axis Bank were the main losers in the sensex package falling as much as 8.67%. 27 of 30 stocks ended in the red.
While Kotak Bank, TCS, and Infosys were the only winners rising to 0.86 percent.
On the NSE platform, the Nifty Realty, Metal, Media, Auto, PSU Bank and Pharma sub-indices fell as much as 5.98 percent.
According to traders, the strong sell-off in global markets and the passage of a farm bill by the government kept investors cautious. The increase in the number of Covid cases at home and abroad also affected investor confidence, they added.
Last week, the government passed three laws aimed at allowing farmers to sell their products directly to food processors and retailers, prompting protests from the opposition who said the bill would leave farmers at the mercy of large corporations. .
“Although the bill will be seen as positive for the markets, there will be uncertainties until it becomes law,” Anita Gandhi, director of Arihant Capital Markets told Reuters news agency.
According to data released by the government, India’s coronavirus cases reached 5.49 million on Monday morning, second only to the United States.
Global markets fell as some European countries such as Denmark, Greece and Spain imposed new restrictions on activity due to the increase in Covid-19 cases, which threatened to halt the recovery.
On the monetary front, the rupee strengthened 7 paise and closed at 73.38 (provisional) against the US dollar.
Meanwhile, currency data showed that foreign institutional investors bought shares worth Rs 205.15 crore net on Friday.
(With contributions from the agency)
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