Sensex
Sensex

Sensex plummets 1,145 points to end day at 49,744; Nifty closes at 14,675

The 30-share BSE index ended 1,145.44 points or 2.25 per cent lower at 49,744.32. The broader NSE Nifty sank 306.05 points or 2.04 per cent to finish at 14,675.70.
Posted by Prashasti Singh | PTI, Mumbai
UPDATED ON FEB 22, 2021 04:23 PM IST

Extending its losses for the fifth straight session, equity benchmark Sensex plummeted 1,145 points on Monday, tracking heavy losses in index majors Reliance Industries, HDFC and TCS amid negative cues from global markets.

The 30-share BSE index ended 1,145.44 points or 2.25 per cent lower at 49,744.32. The broader NSE Nifty sank 306.05 points or 2.04 per cent to finish at 14,675.70.

Dr Reddy's was the top loser in the Sensex pack, shedding around 5 per cent, followed by M&M, Tech Mahindra, Axis Bank, IndusInd Bank and TCS.

On the other hand, ONGC, HDFC Bank and Kotak Bank were the gainers.

"India markets opened on a flattish note tracking mixed Asian market peers with China trading in losses as PBoC kept interest rates unchanged while Japan was trading with marginal gains," said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.

During the afternoon session, markets started to drift lower and traded in red as amid fresh concerns over the increase in the number of COVID-19 cases contributed to the fears that the economic impact will be much larger than earlier estimates, he noted.

"Also, the major western markets failed to provide any support as it opened to trade in red with equity investors growing concern about rising bond yields in recent weeks which could hurt high-growth companies reliant on easy borrowing," Solanki added.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended on a negative note, while Tokyo traded with gains.

Stock exchanges in Europe were also trading in the red in mid-session deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.66 per cent higher at USD 62.55 per barrel.

SHARE THIS ARTICLE ON
Close
FILE - In this Feb. 6, 2020 file photo a Volvo car is parked behind the Volvo logo in the lobby of the company's corporate headquarters, in Brussels. Volvo says it will make only electric vehicles by 2030. But for those who want one, they will have to buy it online. The Swedish automaker said Tuesday, March 2, 2021, that it is phasing out the production of all cars with internal combustion engines — including hybrids. (AP Photo/Virginia Mayo, File)(AP)
FILE - In this Feb. 6, 2020 file photo a Volvo car is parked behind the Volvo logo in the lobby of the company's corporate headquarters, in Brussels. Volvo says it will make only electric vehicles by 2030. But for those who want one, they will have to buy it online. The Swedish automaker said Tuesday, March 2, 2021, that it is phasing out the production of all cars with internal combustion engines — including hybrids. (AP Photo/Virginia Mayo, File)(AP)

Volvo cars to go electric-only and shift sales online from 2030

Bloomberg
PUBLISHED ON MAR 02, 2021 12:05 PM IST
  • With the support of its Chinese owners, Volvo has ramped up investment in electric cars since 2017
Close
Through the IPO, the company is making a fresh issue of shares aggregating up to <span class='webrupee'>₹</span>116 crore.(AP/ Representational)
Through the IPO, the company is making a fresh issue of shares aggregating up to 116 crore.(AP/ Representational)

MTAR Technologies IPO opens tomorrow: 10 points

By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON MAR 02, 2021 11:59 AM IST
According to the company’s prospectus, proceeds from the fresh issue will be used for repayment or pre-payment of its borrowings and funding working capital requirements.
Close
While its price has risen significantly over the past year, bitcoin remains highly volatile. The virtual currency smashed through $58,000 on Feb. 21 then fell back by as much as 25%.(MINT File photo )
While its price has risen significantly over the past year, bitcoin remains highly volatile. The virtual currency smashed through $58,000 on Feb. 21 then fell back by as much as 25%.(MINT File photo )

CBOE seeks approval from US Security & Exchange commission to list Bitcoin ETF

Reuters
PUBLISHED ON MAR 02, 2021 11:52 AM IST
The filing came as Citi analysts said the most popular cryptocurrency was at a "tipping point" and could become the preferred currency for international trades.
Close
On Monday, the rupee had settled at 73.55 against the American currency.(Mint)
On Monday, the rupee had settled at 73.55 against the American currency.(Mint)

Rupee surges 24 paise to 73.31 against US dollar in early trade

PTI, Mumbai
PUBLISHED ON MAR 02, 2021 10:56 AM IST
At the interbank forex market, the local unit opened at 73.32 against the US dollar, then inched higher to 73.31 against the greenback, registering a rise of 24 paise over its previous close.
Close
DIPAM in December had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India.(File photo)
DIPAM in December had invited expressions of interest (EoI) for strategic disinvestment of its entire stake of 63.75 per cent in Shipping Corp of India.(File photo)

Privatisation: Govt gets multiple bids for Shipping corporation of India's

PTI
PUBLISHED ON MAR 02, 2021 10:51 AM IST
The Cabinet had in November last year given an in-principle approval for strategic divestment of Shipping Corp and Container Corp of India Ltd. However, the plans were delayed due to the pandemic.
Close
BPCL share sale is essential for meeting the government’s record <span class='webrupee'>₹</span>2.1 trillion divestment target that the finance ministry announced in the budget for 2020-21.
BPCL share sale is essential for meeting the government’s record 2.1 trillion divestment target that the finance ministry announced in the budget for 2020-21.

Disinvestment: BPCL to sell Numaligarh Refinery stake for 9,876 cr

PTI
PUBLISHED ON MAR 02, 2021 10:40 AM IST
In keeping with the Assam Peace Accord, the government had decided to keep Numaligarh Refinery Ltd (NRL) in the public sector. As part of this, BPCL was to sell its entire 61.65 per cent stake to state-owned firms.
Close
A farmer separates unpolished rice in Thoopran Mandal in Medak District, some 60 km from Hyderabad on November 17, 2020. (File photo)
A farmer separates unpolished rice in Thoopran Mandal in Medak District, some 60 km from Hyderabad on November 17, 2020. (File photo)

Global food prices in January at highest since 2014: Key points

By HT Correspondent| Edited by Sameer
PUBLISHED ON MAR 02, 2021 10:39 AM IST
Higher food prices could complicate the country’s nascent economic recovery, analysts said. Higher international prices of food commodities are spurring India’s food exports, but they will make India’s food imports costlier
Close
People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI)
People watch the Sensex on a screen outside Bombay Stock Exchange (BSE) in Mumbai. (PTI)

Indian shares extend gains as lenders, IT stocks advance

Posted by Prashasti Singh | Reuters, Bengaluru
UPDATED ON MAR 02, 2021 09:52 AM IST
The NSE Nifty 50 index rose 0.8% to 14,880.10 by 0355 GMT, about 120 points short of the 15,000 level that it last touched on Feb. 25.
Close
Capital spending fell 4.8% in October-December compared with the same period a year earlier, Ministry of Finance (MOF) data showed on Tuesday, posting a third straight quarter of declines following a 10.6% drop in July-September.(AFP)
Capital spending fell 4.8% in October-December compared with the same period a year earlier, Ministry of Finance (MOF) data showed on Tuesday, posting a third straight quarter of declines following a 10.6% drop in July-September.(AFP)

Japan cuts investments on plant, equipment, casts doubt on strength of economy

Reuters, Tokyo
PUBLISHED ON MAR 02, 2021 08:06 AM IST
Weakness in capital expenditure is likely to worry policymakers counting on private-sector investment to help the world's third-largest economy decisively shake off the health crisis.
Close
The growth was due to continuing demand for affordable, fuel-efficient hatchbacks as people opted for personal mobility.(Rahul Raut/HT Photo)
The growth was due to continuing demand for affordable, fuel-efficient hatchbacks as people opted for personal mobility.(Rahul Raut/HT Photo)

Auto sales enter fast lane with double-digit growth

By Malyaban Ghosh, Livemint, New Delhi
PUBLISHED ON MAR 02, 2021 07:07 AM IST
Commercial vehicles too posted better sales in line with a pickup in manufacturing and infrastructure activity, according to sales data issued by individual automakers on Monday.
Close
BSE and NSE issued statements that operations were going on smoothly.(AP)
BSE and NSE issued statements that operations were going on smoothly.(AP)

Glitch probe on at HDFC Securities; Zerodha faces snag

By Nasrin Sultana, Livemint, Mumbai
PUBLISHED ON MAR 02, 2021 07:03 AM IST
The brokerage firms that faced a temporary technical issue in early trade on Monday are HDFC Securities, Angel Broking, and discount brokerage firm Zerodha.
Close
After remaining in contraction mode for six months in a row since March 2020, GST collections started growing from September.(File Photo)
After remaining in contraction mode for six months in a row since March 2020, GST collections started growing from September.(File Photo)

GST revenue hits 1 Lakh-crore for 5th month

By Rajeev Jayaswal
PUBLISHED ON MAR 02, 2021 07:00 AM IST
The February collection is 7.3% higher than 1,05,361 crore collected in the same month last year, the last month before businesses took a hit on account of Covid-induced lockdown.
Close
February data pointed to the strongest increase in input inventories in the survey history as firms reacted to rising production needs by lifting purchasing activity.(Reuters file photo. Representative image)
February data pointed to the strongest increase in input inventories in the survey history as firms reacted to rising production needs by lifting purchasing activity.(Reuters file photo. Representative image)

Manufacturing activity remained strong in February

By Asit Ranjan Mishra, Livemint, New Delhi
PUBLISHED ON MAR 02, 2021 06:57 AM IST
Data released by analytics firm IHS Markit on Monday showed Purchasing Managers’ Index (PMI) for the manufacturing sector fell marginally to 57.5 in February from 57.7 in January.
Close
Urban unemployment shot up to as high as 25% after the lockdown was announced last March and remained considerably above the comfort level of policymakers until last month, even as joblessness in the rural areas recovered.(REUTERS)
Urban unemployment shot up to as high as 25% after the lockdown was announced last March and remained considerably above the comfort level of policymakers until last month, even as joblessness in the rural areas recovered.(REUTERS)

Urban jobless rate falls below 7% for the first time in 2 years

By Prashant K Nanda, Livemint, New Delhi
PUBLISHED ON MAR 02, 2021 06:47 AM IST
Urban joblessness fell to 6.99% in February from 8.08% in January, according to the Centre for Monitoring Indian Economy (CMIE), mirroring the gradual revival of the economy.
Close
Higher international prices of food commodities are spurring India’s food exports, but they will make India’s food imports costlier.(Bloomberg file photo. Representative image)
Higher international prices of food commodities are spurring India’s food exports, but they will make India’s food imports costlier.(Bloomberg file photo. Representative image)

Record global food prices benefit Indian farmers, but stoke inflation fears

By Zia Haq, New Delhi
PUBLISHED ON MAR 02, 2021 04:09 AM IST
Food and Agriculture Organisation's (FAO’s) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 113.3 points in January 2021, 4.7 points ( or 4.3%) higher than in December 2020, according to the UN agency.
Close
SHARE
Story Saved
OPEN APP