MARKET WRAP: Sensex slips 674 pts, financials hit; Nifty settles at 8,084
The S&P BSE Sensex nowadays ended at 27,591, down 674 points or 2.39 for each cent amid significant promoting in monetary shares this kind of as ICICI Lender (down 7.five for each cent), HDFC (overv five for each cent), HDFC Lender (down 2 for each cent), and Axis Lender (down over nine for each cent).
Other key contributors to the index’s decline were Infosys, TCS, and Asian Paints. They all fell in the array of three-five for each cent.
On the NSE, the Nifty50 index ended at 8,084, down 170 points or over 2 for each cent.
World marketplaces
With virus-combating lockdowns elevating the hazard of a extended world-wide downturn, traders ongoing to search for the safety of the US dollar and government bonds, pushing US Treasury yields in the vicinity of their most affordable in a few weeks.
With over a million men and women contaminated around the world, there were a lot more indicators the pandemic would just take a massive toll on economic growth. Morgan Stanley mentioned the US economic climate will shrink five.five% in 2020, the steepest drop given that 1946, with a substantial 38% contraction predicted for the 2nd quarter.
US inventory futures sank practically one for each cent.
(With inputs from Reuters)