Updated: September 22, 2020 4:19:08 pm
EEB on Dalal Street, Mumbai. (Express photo by Nirmal Harindran)
The benchmark equity index Sensex fell 300 points on Tuesday, following losses in the Reliance Industries index heavyweights, the HDFC twins and Maruti amid weak signals from their Asian peers.
The 30-share BSE Index closed at 300.06 points or 0.79 percent below 37,734.08. The broader NSE Nifty fell 96.90 points or 0.86 percent to 11,153.65.
Maruti was the top loser in the Sensex package, losing about 3 percent, followed by L&T, IndusInd Bank, Axis Bank, ONGC, Reliance Industries, Asian Paints, and HDFC.
On the other hand, HCL Tech, TCS, Sun Pharma and Tech Mahindra were among the winners.
The Indian market weakened after continuing to sell in other major markets around the world due to new concerns about another round of restrictions due to the increase in COVID-19 cases, which could damage the already slow economic recovery, Narendra Solanki said , Head-Equity Research (Fundamental), Anand Rathi.
During the afternoon session, the market tried to rally briefly, but could not sustain itself as sales in the broader markets returned, he added.
The Shanghai, Hong Kong and Seoul stock exchanges ended with losses, while the European stock exchanges opened on a positive note.
Meanwhile, the world’s benchmark oil Brent crude was trading 1.30 percent higher at $ 41.98 a barrel.
In the foreign exchange market, the rupee depreciated 20 paise to close at 73.58 against the US dollar.
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