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Sensex, Nifty tumble; IFB Industries gains 3 per cent, Coforge declines by more than 7 per cent

Geyatee Deshpande
/ Categories: DSIJ Mindshare, DSIJ News
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Sensex, Nifty tumble; IFB Industries gains 3 per cent, Coforge declines by more than 7 per cent

On Monday, the domestic benchmark indices witnessed a sharp decline as Sensex fell by 540 points or 1.33 per cent to close at 40,145.50 levels while Nifty ended at 11,767.75 levels, down by 162.60 points or 1.36 per cent.

Worries of US stimulus progress and presidential election clubbed with the rising Coronavirus cases in the world kept the overall investors’ sentiments at bay. As it is the earnings season, investors remain cautious while being optimistic about revenue and sales growth to be seen during the festive season.

Read here to know why domestic indices fell today:

https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/15501/Bearish-Monday-Sensex-tumbles-500-points-mid-caps-bleed-here-are-3-reasons-why

Global indices remained subdued as well. In the Asian markets, indices such as Shanghai index and KOSPI declined by 0.82 per cent and 0.72 per cent, respectively while Nikkei closed flat with a negative bias. In European markets, FTSE 100, DAX, and CAC 40 were trading down by 0.25 per cent, 2.07 per cent, and 0.48 per cent, respectively.

Indian Rupee settled 23 paise lower at 73.84 against the US dollar. Crude oil prices fell as the rising Coronavirus cases led to increasing concerns of growth in fuel demand.

Sensex gainers included Nestle India that went up by 2.48 per cent, Kotak Mahindra Bank jumped 2.36 per cent, IndusInd Bank gained by 1.45 per cent, Power Grid rose by 1.15 per cent, HUL increased by 1.12 per cent, etc.

Sense draggers consisted of Bajaj Auto that went down by 6.10 per cent, Mahindra & Mahindra fell by 4.53 per cent, RIL decreased by 3.97 per cent, Tata Steel declined by 3.60 per cent, Tech Mahindra decreased by 3.38 per cent, SBI plunged 2.96 per cent, ICICI Bank fell by 2.85 per cent, etc.

Amongst sectoral indices on BSE, the energy index was the biggest loser, down by 3.51 per cent, followed by the metal index and auto index that declined by 3.37 per cent and 3.28 per cent, respectively. FMCG index was the only index amongst sectoral indices on BSE to close in the green, up by 0.11 per cent. BSE Mid-Cap index declined by 1.77 per cent while BSE Small-Cap index slid by 0.88 per cent.

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