Closing bell: Market falls for fourth straight day; today's drop biggest in last 2 months

Updated : February 22, 2021 04:09 PM IST

Indian equity benchmark indices, Sensex and Nifty ended over 2 percent lower on Monday dragged by heavy selling in banks, IT and auto stocks.

The Sensex plunged 1145.44 points, or 2.25 percent, to 49,744.32, while the Nifty ended at 14,675.70, down 306.05 points, or 2.04 percent.

Indian equity benchmark indices, Sensex and Nifty ended over 2 percent lower on Monday dragged by heavy selling in banks, IT and auto stocks. The Sensex plunged 1,145.44 points, or 2.25 percent, to 49,744.32, while the Nifty ended at 14,675.70, down 306.05 points, or 2.04 percent.

Broader markets, Nifty Smallcap100 and Nifty Midcap100 indices fell over 1 percent each. Barring metals, all other sectoral indices ended with deep cuts.

On the Nifty50 index, Eicher Motors, Mahindra & Mahindra, Tech Mahindra, Dr Reddy's Laboratories and Axis Bank were the top losers, while Adani Ports and SEZ, JSW Steel, Hindalco Industries, Tata Steel and Grasim Industries were the top gainers.

Dr Reddy’s was the top loser in the Sensex pack, shedding around 5 percent, 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.

-With PTI inputs

Closing bell: Market falls for fourth straight day; today's drop biggest in last 2 months

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