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Closing Bell: Sensex ends 580 points lower, Nifty below 12,800; financials drag

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The Sensex ended 580 points lower at 43,600 while the Nifty fell 166 points to settle at 12,772.

Closing Bell: Sensex ends 580 points lower, Nifty below 12,800; financials drag
Indian indices ended over 1 percent lower on Thursday after 4 sessions of gains, following losses in global peers, as widening COVID-19 restrictions weighed on market sentiment. The domestic indices were mainly dragged by financials but IT and metal sectors also contributed to the fall.
The Sensex ended 580 points lower at 43,600 while the Nifty fell 166 points to settle at 12,772. Broader markets were also lower with the Nifty Midcap down 0.7 percent while the Nifty Smallcap index fell 0.23 percent.
During the day, the benchmark indices hit intra-day record highs for fourth straight session. The Sensex rose as much as 50 points to its new high of 44,230 while the Nifty added 25 points to its all-time high of 12,963.
Among sectors, Nifty Bank declined 3 percent while Nifty Fin Services shed 2.4 percent. IT, Metal and Pharma indices also ended in the red for the day, down 0.5-1 percent. However, Nifty FMCG rose 0.4 percent.
On the Nifty50 index, Powergrid, ITC, NTPC, Coal India and Tata Steel were the top gainers while SBI, ICICI Bank, Axis Bank, Tata Motors and JSW Steel led the losses.
Pfizer rose 3 percent after the American pharmaceutical corporation (Pfizer Inc) said that the final results from the late-stage trial of its COVID-19 vaccine were 95 percent effective.