Wednesday, May 12, 2021
Home BUSINESS Markets Sensex sheds 143 points on weak global cues; financial stocks tumble

Sensex sheds 143 points on weak global cues; financial stocks tumble

Equity benchmark Sensex dropped 143 points on Friday, dragged by losses in financial stocks and negative cues from Asian peers.

The 30-share index ended 143.36 points, or 0.39 per cent, lower at 36,594.33. The NSE Nifty shed 45.40 points, or 0.42 per cent, to close at 10,768.05.

Axis Bank was the top loser in the Sensex pack, skidding over 3 per cent, followed by IndusInd Bank, Titan, HDFC, ICICI Bank, ONGC and HDFC Bank.

On the other hand, Reliance Industries, Sun Pharma, HUL, Bharti Airtel and TCS were among the gainers.

According to traders, domestic benchmarks followed the negative trend in other Asian equities as concerns over a fresh spike in COVID-19 cases and its impact on economic recovery weighed on investor sentiment.

The number of cases around the world linked to the disease has crossed 1.22 crore and the death toll has topped 5.54 lakh.

In India, the number of infections has spiked to 7.93 lakh, with 21,604 fatalities.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with significant losses, while stock exchanges in Europe started on a positive note.

Meanwhile, international oil benchmark Brent crude futures slipped 2.08 per cent to USD 41.47 per barrel.

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