Strong buying interest in PSU bank stocks, such as PNB, Bank of Baroda and Indian Bank, was outweighed by losses across pharmaceutical, IT and automobile shares besides private bank names.
Analysts said the benchmarks struggled to stay in the positive territory on earnings optimism but surging Covid-19 infections, as the country crossed the grim milestone of 20 million coronavirus cases, continued to batter investors’ sentiment.
The S&P BSE Sensex index ended 465.01 points or 0.95 per cent lower at 48,253.51 and the broader NSE Nifty 50 benchmark shut shop at 14,496.50, down 137.65 points or 0.94 per cent from its previous close.
Analysts awaited more earnings reports from late cap companies for cues.
India reported 357,229 new COVID-19 cases over the last 24 hours, taking the total tally to 20.28 million.
The second wave of COVID-19 infections has overwhelmed the healthcare system and forced several states to enter lockdowns. Several states in the world’s second-most populous country have also run out of COVID-19 vaccines.
Asian share markets were marginally higher as investors looked to signs of recovery from the pandemic as major economies around the world reopen.
THIS IS A DEVELOPING STORY. MORE TO COME…
