BSE & NSE tumble in early trade

BSE Sensex tumbled by 620.66 points to end at 60,205.56 in initial trade & the broader NSE Nifty dropped by 158.55 points to settle at 17,968.80
BSE & NSE fall
BSE & NSE fall

Mumbai: Equity benchmarks tumbled in early trade on Friday in tandem with weak global market trends as investors sentiment remained muted in view of the COVID surge in some countries. The 30-share BSE Sensex continued to remain under selling pressure for the fourth day running and tumbled by 620.66 points to 60,205.56 in initial trade. On similar lines, the broader NSE Nifty dropped by 158.55 points to 17,968.80.

The BSE benchmark declined by 241.02 points or 0.39 percent to finish at 60,826.22 on December 22. The Nifty dropped by 71.75 points or 0.39 percent to settle at 18,127.35. Foreign institutional investors (FIIs) turned buyers as they bought shares worth Rs 928.63 crore on December 22, according to exchange data.

Position of various stocks listed in BSE

From the Sensex pack, Tata Motors, Tata Steel, State Bank of India, Infosys, HDFC, HDFC Bank, Bajaj Finance and Power Grid were the major laggards.

Sun Pharma, Reliance Industries, Nestle and Tata Consultancy Services logged gains.

Performance of markets worldwide

In Asia, equity markets in Seoul, Tokyo and Hong Kong were trading lower, while Shanghai quoted in the green.

International oil benchmark Brent crude climbed 0.84 percent to USD 81.66 per barrel.

The US markets had ended sharply lower on Thursday.

"The high market volatility of the last six days is likely to continue. There is an element of overreaction in the market to the COVID news," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

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