April 17, 2021

Market and Financial News

Market and Financial News Aggregator

Sensex Tanks 627 Points; Nifty Dips Below 14,700

1 min read
VIXC Financial and Market News

Financial and Market News aggregator

Indian shares succumbed to heavy selling pressure on Wednesday as a steep rise in the dollar index and climbing U.S. bond yields revived fears over capital outflows.

The dollar headed for its best month since November 16 while Treasury yields are on pace for their biggest quarterly rise in 5 years, buoyed by hopes of stronger growth and inflation.

Renewed concerns over rising Covid-19 cases in the country also dented sentiment.

India reported 53,480 new covid-19 cases in the last 24 hours, taking active cases in the country to 5,52,566.

The situation is worsening in Maharashtra, which has seen a huge rise in coronavirus positive cases over the last week.

The benchmark 30-share BSE Sensex plunged as much as 627.43 points, or 1.25 percent, to 49,509.15, while the broader NSE Nifty index settled at 14,690.70, down 154.40 points, or 1.04 percent, from its previous close.

Coal India, Tech Mahindra, Power Grid Corp, HDFC Bank and HDFC fell 2-4 percent in the Nifty pack, while ITC, Bajaj FinServ, UPL, Grasim and Tata Steel all rose about 2 percent.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

2021-03-31 06:50:29

All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator

Read more from original source here…

Leave a Reply

Copyright © All rights reserved. | Newsphere by AF themes.