Bears again in motion, traders lose Rs 6.59 lakh cr


Mumbai, December 21

Snapping its six-session record-setting streak, equity benchmark Sensex crashed 1,407 points on Monday as a new strain of the coronavirus in the UK clobbered global markets and cast a cloud over the economic recovery expected next year.

A sharp drop in the rupee and profit-booking after the recent rally added to the selling pressure on Dalal Street, traders said.

The Sensex plunged 1,406.73 points or 3% to close at 45,553.96. This was its biggest single-day fall since May 4 this year. Similarly, the Nifty tanked 432.15 points or 3.14% to finish at 13,328.40.

The m-cap of BSE-listed companies dropped by Rs 6.59 lakh crore. European markets swooned while safe-haven assets like gold and the US dollar strengthened after the UK government reported a new strain of the coronavirus that was up to 70% more contagious. — PTI

ONGC worst hit

  • All Sensex components ended in the red, with ONGC leading the pack by tumbling 9.15%
  • IndusInd Bank, M&M, SBI, NTPC, ITC, Axis Bank and PowerGrid shed up to 6.98%
  • The market capitalisation of all BSE-listed companies dropped by Rs 6.59 lakh crore to stand at Rs 178.79 lakh crore



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