Equity indices plunge, Sensex down 1,200 points

The BSE Sensex closed at 28,265.31, lower by 1,203.18 points or 4.08 per cent from the previous close of 29,468.49. Similarly, the NSE Nifty tanked 343.95 points, or 4 per cent, to close at 8,253.80.

Mumbai: Equity benchmark Sensex plummeted over 1,203 points on Wednesday, in line with a global selloff as investors fretted over the impact of prolonged worldwide lockdowns due to the Covid-19 pandemic.

Starting the new financial year on a poor note, the 30-share BSE barometer slumped 1,203.18 points or 4.08 per cent to finish at 28,265.31.

Similarly, the NSE Nifty tanked 343.95 points, or 4 per cent, to close at 8,253.80.

Top gainers and losers

Tech Mahindra was the top loser in the Sensex pack, crashing over 9 per cent, followed by Kotak Bank, Axis Bank, TCS, Infosys and HUL.

On the other hand, Hero MotoCorp, Bajaj Auto, Bajaj Finance and Titan were the gainers.

According to traders, domestic equities plunged in tandem with global stocks as no respite from the coronavirus pandemic seemed in sight.

Extensive lockdowns to contain the spread of the virus have severely hit business outlook, they said.

Global Market

On the global front, bourses in Hong Kong, Tokyo, Seoul and Shanghai plunged up to 4 per cent.

Benchmarks in Europe were also trading with significant losses.

Brent crude futures, the global oil benchmark, plunged 5.20 per cent to USD 24.98 per barrel.

(PTI Report)