Sensex ends over 1,000 points lower, Nifty below 9,000 dragged by banks stocks
The Centre’s decision to extend the nation-wide lockdown for two weeks till May 31 also weighed on market sentiments.
Indian equity markets ended sharply lower for the third consecutive day on Monday as details of Rs 20 lakh crore stimulus package announced by Union finance minister over five days failed to impress investors.
The Centre’s decision to extend the nation-wide lockdown for two weeks till May 31 also weighed on sentiments.
The S&P BSE Sensex ended down 1,068.75 points or 3.44% at 30,028, while the NSE Nifty 50 ended at 8,823, down 3.32%.
Out of the 30 shares of Sensex, 26 scrips ended in the red. IndusInd Bank was top Sensex loser, down 9.63%, followed by HDFC, Maruti Suzuki, Axis Bank and UltraTech Cements. While TCS, Infosys, ITC and HCL Tech were the only gainers.
And on Nifty, 44 out of the 50 constituents ended with losses.
Among sectoral indices, the Nifty Bank and the Nifty Media index ended with losses of more than 6.5%. Nifty Auto and Nifty PSU Banking index fell 6% each. On the other hand, Nifty IT and Nifty Pharma ended with modest gains.
IndusInd Bank, Zee Entertainment, Eicher Motors, UltraTech Cement and Axis Bank were among major losers on the Nifty and Cipla, TCS, Bharti Infratel, Infosys and ITC gained.