Markets

Sensex surrenders early gains, ends 63 points lower

A view of the Bombay Stock Exchange in Mumbai.

A view of the Bombay Stock Exchange in Mumbai.   | Photo Credit: Vivek Bendre

Equity benchmark Sensex gave up all the day’s gains to end 63 points lower on Tuesday as spiking number of COVID-19 cases in the country created an uncertainty about lockdown measures going ahead.

After rallying 414.11 points during the day, the 30-share index declined 63.29 points or 0.21% to 30,609.30.

Similarly, NSE Nifty ended 10.20 points or 0.11% down at 9,029.05.

Bharti Airtel was the top loser in the Sensex pack, plunging around 6%, followed by TCS, Bajaj Finance, Sun Pharma, Tech Mhindra, Infosys and Hero MotoCorp.

On the other hand, Titan, Ultratech Cement, IndusInd Bank, Nestle India and ITC were among the gainers.

“After opening up by more than 1%, benchmark indices pared gains to close flat, with a negative bias. However, global market cues were positive, on the back of additional stimulus measures and slow reopening of economies globally,” Vinod Nair, Head of Research at Geojit Financial Services, said.

The unabated rise of infections continues in India, which throws up further uncertainties with regards to extension of lockdown measures, he added.

The number of coronavirus cases in India climbed to 1,45,380 and the death toll touched 4,167, as per health ministry data.

Globally, the number of cases linked to the disease has crossed 54.95 lakh.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended significantly higher.

Stock exchanges in Europe too rallied up to 1.76% in early deals.

International oil benchmark Brent crude futures were trading 1.58% higher at USD 36.09 per barrel.

On the currency front, the rupee appreciated 29 paise to close at 75.66 against the US dollar.

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Printable version | Jul 5, 2020 1:24:14 PM | https://www.thehindu.com/business/markets/sensex-surrenders-early-gains-ends-63-points-lower/article31678129.ece

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