Sensex Tumbles 661 Points, Nifty Nears 10,600

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Indian shares ended Tuesday’s session sharply lower, dragged down by banks, metals, auto and realty stocks amid fears that rising coronavirus cases in the country will bring back lockdown.

Global cues were weak as California withdrew plans to reopen and the World Health Organization warned the pandemic could get far worse if countries around the world do not follow basic healthcare precautions.

Renewed U.S.-China tensions also dampened investor sentiment as the White House rejected nearly all Chinese maritime claims in the South China Sea, a move that Beijing criticized as inciting tensions in the region.

The benchmark S&P BSE Sensex ended the session down 660.63 points, or 1.80 percent, at 36,033.66, while the broader NSE Nifty index dropped 195.35 points, or 1.81 percent, to 10,607.35.

Adani Ports, Zee Entertainment Enterprises, Eicher Motors, Axis Bank and IndusInd Bank lost 4-5 percent, while Dr Reddy’s Laboratories rose nearly 2 percent.

Dr Reddy’s Laboratories gained over a percent after announcing the launch of the over-the-counter (OTC) Nicotine Polacrilex Lozenges in the U.S. market.

Reliance Industries fell over 1 percent ahead of its AGM tomorrow.

Mid-size IT services provider MindTree tumbled 3.5 percent after reporting a decline in dollar revenue for the June quarter.

Eveready Industries soared 10 percent on reports of the Burman family picking up an 8.8 percent stake in the company.

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2020-07-14 07:28:01

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