New Delhi | Jagran Business Desk: Equity benchmark Sensex on Friday witnessed its worst single-day decline in the last 7 months with the 30-share index plummeting 1,688 points at the closing bell, tracking a massive selloff in global markets as concerns over a new COVID-19 variant spooked investors across the world. A similar fall was also witnessed in the broader NIFTY 50 index which dropped below its important psychological level of 17,000 to hit an intraday low of 16,985.

The 30-share BSE Sensex ended 1,687.94 points or 2.87 per cent lower at 57,107.15. Similarly, the NSE Nifty plunged 509.80 points or 2.91 per cent to 17,026.45 at the closing bell.

IndusInd Bank was the top loser in the Sensex pack, tanking over 6 per cent, followed by Maruti, Tata Steel, NTPC, Bajaj Finance, HDFC and Titan. On the other hand, Dr Reddy's and Nestle India were among the gainers. 

Markets saw a sharp correction this week amid renewed concerns pertaining to COVID-19. Sensex and Nifty declined close to 4 per cent this week and are down around 8 per cent from their highs, said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

"The new variant of COVID-19 is presenting challenges in the form of lockdowns and travel bans. Apart from COVID-related concerns, inflation remains a worry for countries across the globe. FIIs have been net sellers this week. Equity markets in the near term will closely follow the impact of new COVID variant, inflation data, and central bank policies," he added.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo sank as much as 2.67 per cent. Stock exchanges in Europe too plunged up to 3.51 per cent in mid-session deals. Meanwhile, international oil benchmark Brent crude tanked 5.62 per cent to USD 77.60 per barrel. 

Market Highlights, Friday, November 26:

Autos, banks, metals and energy stocks were the worst hit, with the sub-indexes down between 2per cent and 2.7per cent. Reliance Industries led the blue-chip Nifty's decline, falling as much as 2.4per cent after ending the previous session up 6per cent.

The Nifty Pharma Index bucked the trend to gain 2.50per cent. Sector leaders included Cipla Ltd and Pfizer Ltd. Cipla rose as much as 6.4per cent to a more than 7-month high, while Pfizer climbed to 5.7per cent.

Indian shares tumbled more than 2per cent on Friday, with losses seen across sectors, as investors fled risky assets after a new and possibly vaccine-resistant coronavirus variant was identified in South Africa.

The blue-chip NSE Nifty 50 index was down 2.05per cent at 17,176.60 by 10:25, while the benchmark S&P BSE Sensex also fell 2.05per cent to 57,586.16.

Sensex plunges more than 1300 points, Nifty below 17,200

Maruti was the top loser in the Sensex pack, shedding nearly 3 per cent, followed by Bajaj Finserv, Kotak Bank, HDFC, Bajaj Finance and Tata Steel. On the other hand, Dr Reddy's and Sun Pharma were the gainers.

Sensex plunges 705.93 to 58,089.16 in opening session; Nifty tanks 230.40 pts to 17,305.85.

Highlights of Thursday, November 25: 

Reliance Industries was the top gainer in the Sensex pack, soaring over 6 per cent, followed by ITC, Infosys, Tech Mahindra, Titan, Bharti Airtel and PowerGrid. On the other hand, Maruti, ICICI Bank, IndusInd Bank, HUL and L&T were among the laggards.

Sensex gains over 450 points to end day at 58,795; Nifty closes session at 17,536

ICICI bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by NTPC, Bajaj Finserv, HUL, Asian Paints, ITC and HDFC.  On the other hand, Tech Mahindra, Reliance Industries, Kotak Bank and Infosys were among the gainers.

Equity benchmark Sensex slipped over 100 points in early trade on Thursday. Similarly, the Nifty was trading 30.15 points or 0.17 per cent down at 17,384.90. 

Sensex advances 23 pts to 58,363.99 in opening session; Nifty inches 3.70 pts higher to 17,418.75

Highlights of Wednesday, November 24:

Despite a strong start, the stock market closed with losses, failing to continue with the positive momentum. The BSE Sensex dropped by 323.34 points or 0.55 per cent, closing at 58,340.99. Similarly, the NSE Nifty plunged by 88.30 points or 0.50 per cent to close at 17,415.05.

Maruti Suzuki India was the top loser and was down by 2.6 per cent. Reliance Industries, ITC, Infosys, Asian Paints and Tech Mahindra were also among the laggards. On the other hand, NTPC, Bharti Airtel, Kotak Bank and Power Grid ended in the green.

Earlier in the day, Sensex was up by 187.89 points or 0.32 per cent to open at 58,852.22 while Nifty rose 59.85 points or 0.34 per cent to start at 17,563.20.

Highlights of Tuesday, November 23:

On Tuesday, the stock market snapped the four-day losing streaking as the Sensex jumped by 198.44 or 0.34 per cent to end at 58,664.33. Similarly, the Nifty was up by 86.80 points or 0.50 per cent as it ended at 17,503.35.

Power Grid was the top gainer in the Sensex pack as it was up by 3.89 per cent. It was followed by NTPC, Tata Steel, Bharti Airtel and Sun Pharma. On the other hand, IndusInd Bank was the top loser and was down by 2.59 per cent. It was followed by Asian Paints, Infosys, Bajaj Auto and Maruti Suzuki India.

Earlier in the opening session, Sensex had dropped below the 58,000-mark, plunging by 686.89 points or 1.17 per cent while Nifty opened at 17,246.60, dropping by 162.75 points 0.93 per cent.

Highlights of Monday, November 22:

Investors on Monday also had a tough day at the Dalal Street after the Sensex plunged by 1,170.12 points or 1.96 per cent to close at 58,465.89 while the Nifty was down by 348.25 points or 1.96 per cent as it ended at 17,416.55. The top loser in the Sensex pack was Reliance Industries (RIL) who shares declined by nearly 4 per cent following its proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco for USD 15 billion.

Besides RIL, Maruti, Bajaj Finance, Kotak Mahindra Bank, HCL Tech, Bajaj Finserv and State Bank of India (SBI) were trading in red with their shares being down by 3.73 per cent. On the other hand, Bharti Airtel, PowerGrid, Asian Paints, IndusInd Bank and ITC were trading in green.

Market analysts had blamed the resurgence of COVID-19 in several European countries, including Austria where a complete lockdown has been reimposed again due to a spike in cases, behind the decline in Sensex and Nifty. "Nifty has corrected around 4.5 per cent from the all-time high. The risk-off mood in global markets may gather strength on fresh COVID cases in Europe and lockdowns in countries like Austria," news agency PTI quoted VK Vijaykumar, Chief Investment Strategist at Geojit Financial Services, as saying.

Posted By: Aalok Sensharma