Markets publish losses as risk-off temper prevails

Mumbai, August 3

The Sensex crashed 667 factors whereas the Nifty closed beneath the 10,900-mark on Monday as traders remained in promoting mode for the fourth straight session amid frothy valuations and mounting Covid circumstances. A depreciating rupee and grim macroeconomic information additional sapped threat urge for food.

The 30-share BSE Sensex, which opened within the purple, stayed within the destructive zone all through the session to shut at 36,939.60, down 667.29 factors or 1.77 per cent. Similarly, the NSE Nifty tumbled 181.85 factors or 1.64 per cent to finish at 10,891.60.

The Sensex has now misplaced 1,553.35 factors in 4 days, whereas the Nifty has shed 408.95 factors. According to merchants, large promoting in index majors RIL and HDFC duo dragged the important thing indices decrease.

Further, international fund outflows and issues over the unabated rise in Covid-19 circumstances internationally saved traders on edge, they added. The rupee too sank 20 paise and settled beneath the 75 per US greenback mark. On the macro entrance, India’s manufacturing sector exercise contracted at a barely quicker tempo in July as demand circumstances remained subdued, PMI information confirmed.

“Although momentum has slowed down, stock specific action is still happening, dependent mainly on the earning results,” mentioned Vinod Nair, Head of Research at Geojit Financial Services. — PTI

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