New Delhi: The equity index fell on Monday with BSE Sensex benchmarks to fall nearly 600 points dragged by banking and financial stocks amid weak global cues.
The 30-Sahre BSE index fell 587 points or 1.1 percent to close at 52,553; While the wider NSE settled 171 points or 1.07 percent lower at 15,752.
The HDFC Bank is the top lambment in the sensex package down to 3.18 percent after lenders report quarterly profits that missed expectations on Saturday because loan provisions were jammed and the quality of assets deteriorated.
Indusind Bank, HDFC, Axis Bank, Bajaj Finance, Maruti and Bank Box are other major losers on the BSE index.
In fact, NTPC, Nestle India, Dr.
Reddy’s, Sun Pharma and ITC are the only enhancer that rose as much as 2.18 percent.
On the NSE platform, private bank sub-indices, financial services, banks and automatically fell to 2.04 percent.
“Domestic equity does not look inspired until now.
June quarter performance under the HDFC region during the weekend along with pressure seen in the quality of assets can weigh over the overall finances,” Bines-strategy strategy at Reliance Securities to the PTI news agency.
On the global front, Asian stocks fell across the council, because pessimism held after increasing the regional Covid-19 infection and Wall Street’s first weekly loss after a three-week increase.
Meanwhile, foreign institutional investors (FIIS) are clean sellers in the capital market because they lowered the shares worth Rs 466.30 Crore on Friday, according to temporary exchange data.
(With input from agency)
Sensex Dies 587 points as banking, financial stocks plunge
