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Index heavyweights drag Sensex down 667 points

Source: PTI
Last updated on: August 03, 2020 19:06 IST
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Kotak Bank was the top loser in the Sensex pack, falling over 4 per cent, followed by IndusInd Bank, Axis Bank, ONGC, HDFC Bank, Bajaj Auto and Reliance Industries.

Slumping for the fourth straight session, equity benchmark Sensex plunged 667 points on Monday following a selloff in index-heavyweights Reliance Industries, HDFC twins and Kotak Bank as soaring COVID-19 cases kept investors jittery.

The rupee too sank 20 paise and settled below the 75 per US dollar mark.

 

The BSE Sensex ended 667.29 points or 1.77 per cent lower at 36,939.60, while the NSE Nifty tumbled 181.85 points or 1.64 per cent to 10,891.60.

Kotak Bank was the top loser in the Sensex pack, falling over 4 per cent, followed by IndusInd Bank, Axis Bank, ONGC, HDFC Bank, Bajaj Auto and Reliance Industries (RIL).

On the other hand, Titan, Tata Steel, HCL Tech, L&T and SBI were among the gainers.

According to traders, massive selling in index majors RIL and HDFC duo dragged the key indices lower.

Further, foreign fund outflows and concerns over rise in COVID-19 cases across the world kept investors on edge, they added.

The number of cases around the world linked to COVID-19 has crossed 1.8 crore, while the infection count in India has crossed 18 lakh.

Globally, however, bourses in Shanghai, Tokyo, Seoul settled on a positive note, while Hong Kong ended in the red.

Global oil benchmark Brent crude was trading 0.69 per cent lower at $43.22 per barrel.

Photograph: Francis Mascarenhas/Reuters

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