Sensex plunges tracking global markets as bank, metal stocks weigh on Dalal Street
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Last Updated: May 11, 2021, 10:40 AM IST
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The S&P BSE Sensex index tanked as much as 514.23 points to 48,988.18 in the first few minutes of trade.
Reuters
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NEW DELHI: A sharp sell-off in tech stocks in the US on fears of rise in inflation clipped wings of high-flying bulls on Dalal Street on Tuesday. Selling in metals and banks pushed bluechip indices lower.
The sell-off in tech stocks in NASDAQ yesterday might is unlikely to become a trend, given the reversal of domestic institutional selling witnessed from June 2020 through Feb 2021, said an analyst. They have now become net buyers on the Street.
Sensex jumps as bank, pharma, metal stocks lift D-Street: What s driving market today
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It is important to discern the cold economic and financial logic that drives markets, which focus on earnings, particularly future earnings, said an analyst.
Reuters
The S&P BSE Sensex index jumped as much as 383.96 points to touch 49,590.43 at the strongest level recorded in early deals.
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NEW DELHI: Dalal Street saw an extended hope rally on Monday even as the Covid-19 pandemic continued to rattle the country. Benchmark indices advanced about one per cent thanks to buying in metal and pharma spaces.
Sensex Rallies Over 400 Points In Early Trade; Nifty Tops 14,800
IndusInd Bank was the top gainer in the Sensex pack and rose over 2 per cent, followed by M&M, NTPC, HDFC Bank, SBI, TCS, Asian Paints and Reliance Industries.
PTI 07 May 2021 Representational Image PTI 2021-05-07T09:54:27+05:30 Sensex Rallies Over 400 Points In Early Trade; Nifty Tops 14,800 outlookindia.com 2021-05-07T09:55:26+05:30
Equity benchmark Sensex rallied over 400 points in early trade on Friday, tracking gains in index majors HDFC twins, Reliance Industries and TCS amid positive cues from global markets.
The 30-share BSE index was trading 416.43 points or 0.85 per cent higher at 49,366.19 in initial deals.