Closing Bell: Covid-19 scare weighs on Dalal Street as Sensex, Nifty post end in red for 3rd session in row

Closing Bell, BSE Sensex, NSE Nifty: The 30-share BSE Sensex tumbled by 241 points or 0.4 per cent to 60,826.22 levels, while Nifty50 slumped by 72 points or 0.4 per cent to 18127.

Closing Bell, Covid-19, Dalal Street, BSE Sensex, NSE Nifty, Indian Markets, Coronavirus, Midcap, Smallcap, Broader markets, Nifty bank - Image Source: IANS

Closing Bell, BSE Sensex, NSE Nifty: The sentiment in Indian markets turned weak as the coronavirus cases rise in China and US while the Indian government springs into action in a preventive move. S&P BSE Sensex and NSE Nifty50 ended negative for the third straight session on Thursday led by profit booking in metal, auto and bank stocks.

The 30-share BSE Sensex tumbled by 241 points or 0.4 per cent to 60,826.22 levels, while Nifty50 slumped by 72 points or 0.4 per cent to 18127. Broader markets moved in tandem to the frontline indices extending the losing trend on the expiry day. Nifty Mid Cap and Small Cap were down between 1 and 2 per cent.

Of 50 stocks on Nifty, only 9 advanced. Sun Pharmaceuticals, SBI Life, UltraTech Cement, Grasim Industries and Asian Paint were among top gainers while UPL, which cracked 3.5 per cent was the top loser. It was followed by Bajaj Finserv, Mahindra & Mahindra, Eicher Motor, Tata Motors.

Sectorally, all indices closed in the red, including Pharma – except for IT, which ended flat. Nifty Metal and Auto along with Nifty Realty were among the top losers down over 1 per cent. While Nifty Bank, Financials, FMCG, and Pharma ended between 0.2-0.5 per cent today.

"Healthcare, diagnostics, and all pharma-linked stocks will be in focus over the next few days due to the re-emergence of COVID-19 cases in China, which has led to worries elsewhere," said Siddharth Khemka, head of retail research at Mumbai-based Motilal Oswal Services.

Reserve Bank of India’s (RBI) hawkish remarks at its December monetary policy meeting has only added to the worries in the domestic equity markets. The minutes of the same was released on Tuesday.

Wall Street equities advanced sharply on Wednesday after data showed that consumer confidence in the world's largest economy rose to an eight-month high in December. While Asian markets also advanced after the bounce in US shares, with the MSCI Asia ex Japan rising 1.49 per cent.

With Reuters Inputs

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