Saturday, May 8, 2021
Home BUSINESS Markets Sensex snaps five-day winning streak, tanks 345.51 points

Sensex snaps five-day winning streak, tanks 345.51 points

Snapping its five-day rising streak, equity benchmark Sensex closed 346 points lower after a highly volatile session on Wednesday, dragged by losses in index heavyweights Reliance Industries, Infosys and TCS amid weak cues from global peers.

After opening on a positive note, the 30-share index sank 594.26 points from the day’s high and finally settled 345.51 points, or 0.95%, lower at 36,329.01.

Similarly, the NSE Nifty dropped 93.90 points, or 0.87%, to close at 10,705.75.

Bajaj Finance was the top laggard in the Sensex pack, tumbling over 4%, followed by Asian Paints, Bajaj Finserv, HCL Tech, Maruti and Infosys.

On the other hand, IndusInd Bank, SBI, HUL, Tata Steel and ITC were among the gainers.

According to traders, domestic market followed volatility in global equities as rising number of COVID-19 cases across the world stoked concerns over economic recovery.

The number of cases around the world linked to the disease has crossed 1.17 crore and the death toll has topped 5.43 lakh.

In India, the number of infections has spiked to 7.42 lakh, with 20,642 fatalities.

Bourses in Shanghai and Hong Kong ended with gains, while Tokyo and Seoul closed in the red.

Stock exchanges in Europe too began on a negative note.

Meanwhile, international oil benchmark Brent crude futures fell 0.16 % to $43.01 per barrel.

On the currency front, the rupee depreciated 9 paise to settle at 75.02 against the U.S. dollar.

You have reached your limit for free articles this month.

To get full access, please subscribe.

Already have an account ? Sign in

Show Less Plan

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Faster pages

Move smoothly between articles as our pages load instantly.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.


A one-stop-shop for seeing the latest updates, and managing your preferences.

Personalised recommendations

A select list of articles that match your interests and tastes.


We brief you on the latest and most important developments, three times a day.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.

Source link


Please enter your comment!
Please enter your name here

Most Popular

Indian Staffing Market will be the largest market in the world, today the industry is an over 6 billion dollar industry, says Mr Sultan...

Mumbai: According to Mr Sultan Khan, Founder & Director of EaseConnect HR Services Pvt. Ltd. Indian Staffing Market will be the largest market in...

HSE Interview Questions & Answers

What is Safety? The condition of being protected from or unlikely to cause danger, risk, or injury is Called Safety. What is the accident? It is an...

Putham Pudhu Kaalai trailer: Five Tamil filmmakers bring five stories of love in the time of Covid-19

The trailer of Amazon Prime’s upcoming Tamil film Putham Pudhu Kaalai was unveiled on Monday by filmmaker Mani Ratnam and composer A.R Rahman. Tamil...