Sensex crashes over 1,300 factors on spiking Covid circumstances; Nifty under 14,300

Mumbai, April 19

Equity benchmark Sensex crashed over 1,300 points in early trade on Monday, tracking massive across-the-board selloff as mounting Covid cases spooked investor sentiment.

The 30-share BSE index was trading 1,318.21 points or 2.70 per cent lower at 47,513.82.

Similarly, the broader NSE Nifty tanked 394.90 points or 2.70 per cent to 14,222.95.

All Sensex components were in the red. Bajaj Auto was the top loser in the Sensex pack, dropping over 5 per cent, followed by IndusInd Bank, SBI, ICICI Bank, Bajaj Finance and Axis Bank.

In the previous session, Sensex ended 28.35 points or 0.06 per cent higher at 48,832.03, and Nifty rose 36.40 points or 0.25 per cent to 14,617.85.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 437.51 crore on Friday, according to provisional exchange data.

“The health crisis India is going through and localised lockdowns and restrictions on economic activity warrant a market correction,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude was trading 0.49 per cent lower at USD 66.44 per barrel. PTI

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