Updated Dec 21, 2020 | 21:41 IST
Sensex tanked over 1,600 points while Nifty fell below the 13,500 level, which mainly slid due to selling in financials and private banks. Key factors that triggered the bloodbath on Dalal street New coronavirus strain to crude crash: 7 factors that led to mayhem on Dalal Street on Monday
New Delhi: Markets erased all the gains made in the previous six days because of across-the-board selling pressure following the virus scare in the UK and likely fallout in Brexit negotiations.
Sanjeev Hota, Head of Research, Sharekhan by BNP Paribas, said: The Indian equities tumbled as a new strain of coronavirus in the UK created panic among the investors. Also, the overhang of Brexit talks has added to negative sentiments. Further lack of depth in the market owing to the holiday season aided the big fall today. We expect the equities market to witness further volatility in the near term. Nevertheless, correction after the big r
Updated Dec 21, 2020 | 14:37 IST
Both the benchmark indices witnessed a heavy correction after gaining for seven weeks in a row. All sectoral indices ended lower in today s session. Sensex sinks over 1,400 points amid new coronavirus strain, Nifty posts biggest single-day drop since May 2020 | Photo Credit: BCCL
New Delhi: It was an absolute bloodbath on Dalal Street on Monday. India s equity markets witnessed their biggest single-day drop in seven months as a new strain of Covid-19 in parts of the United Kingdom dampened investor sentiment. The S&P BSE Sensex tanked 3% or over 1,400 points to end at 45,553. It managed to end 600 points higher than the lowest point of the day.
Updated Dec 21, 2020 | 09:29 IST
The PSU Bank index opened 1.3% lower and was the top laggard. The Nifty Metal index too was down 0.9% at the start of trade. Other indices like the Nifty Bank and Nifty Auto were down 0.4% Sensex, Nifty open flat amid weak global cues; RIL gains on gas output, aviation stocks dip | Photo Credit: BCCL
New Delhi: Indian equity markets opened with modest losses on Monday after seven straight weeks of gains. The S&P BSE Sensex opened 28 points lower at 46,932 while the broader NSE Nifty 50 index opened 18 points lower at 13,741. 780 stocks on the NSE opened with gains while 743 are trading with losses.
What is your view on the markets at large and the fabulous runup in midcaps as well as large cap names? Is this upward trajectory sustainable?
I think so. What is driving this rally clearly is a rotation out of global debt funds into equity and then from the equity of developed markets into the emerging market. India is getting its fair share of flows. I would like to believe that we are in still early stages of that rotation and it will pick up further pace next year. Just driven by flows, the rally should sustain.
It is arguable whether the valuations have run ahead of themselves but what we are seeing is that the earnings upgrades will also kick in as companies report better performance than analysts’ expectations. Barring some unforeseen events, this rally should build momentum from here on.
ETMarkets Morning Podcast (ET Online) RBI says soured loans hurting monetary transmission
06:16 Min | December 16, 2020, 8:44 AM IST
Here s a head up to some of the news we are tracking at this hour. Tune in!
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Transcript
Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Nandini Sanyal, and here is what we have to start your day. Mrs Bectors sets IPO mart on fire M&M unit SsangYong defaults Markets await Fed view if US is headed for double-dip recession
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And there is more. But first, a quick glance at the state of the markets.