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Sensex opens 322 points lower as Covid-19 cases cross 52,000-mark
The markets had ended the two-day losing streak on Wednesday as investors made a cautious return to some recently-battered banking, finance and auto counters.
Indian stocks slid on Thursday, with declines led by banks and Hindustan Unilever, as coronavirus cases in the country crossed 50,000.
The NSE Nifty 50 index was down 83 points at 9,187.90 as markets opened, while the S&P BSE Sensex fell 322.79 points to 31,362.96.
Shares in Hindustan Unilever fell 4.3% after GlaxoSmithKline began selling $3.45 billion worth of the company’s shares in the open market.
In a bright spot, Yes Bank’s shares jumped nearly 10% after the lender reported a surprise profit for the March quarter.
The markets had ended the two-day losing streak on Wednesday as investors made a cautious return to some recently-battered banking, finance and auto counters.
Dismal macroeconomic data and rising concerns over the country’s economic outlook amid rising Covid-19 cases capped the gains, traders said. After swinging over 800 points during the day, the 30-share BSE Sensex closed 232.24 points or 0.74 per cent higher at 31,685.75.
On similar lines, the NSE Nifty rose 65.30 points, or 0.71 per cent, to finish at 9,270.90.
European markets were trading on a cautious note in early deals.
International oil benchmark Brent crude futures rose 1.65 per cent to USD 31.48 per barrel.
On the currency front, the rupee depreciated 9 paise to close at 75.72 against the US dollar.
The number of Covid-19 infections in India rose to 52,952 in India, up by 3,561 over the previous day, the health ministry said on Thursday. The death toll was up by 89 to 1,783.
