Equity indices down by 1.5 pc, metals and PSU banks drag

ANI
24 Sep 2020, 10:33 GMT+10

Mumbai (Maharashtra) [India], September 24 (ANI): Equity benchmark indices plunged by nearly 1.5 per cent during early hours on Thursday on the back of weak global cues.

At 10:15 am, the BSE SP Sensex was down by 561 points or 1.49 per cent at 37,107 while the Nifty 50 tumbled by 155 points or 1.4 per cent at 10,976.

All sectoral indices at the National Stock Exchange were in the red with Nifty metal, PSU bank and realty edging lower by 2 per cent each, auto by 1.7 per cent and IT by 1.4 per cent.

Among stocks, Hindalco cracked by 3.9 per cent to Rs 159 per share and JSW Steel by 2.3 per cent to Rs 261.95.

IndusInd Bank fell by 3.6 per cent, Bajaj Finance by 2.9 per cent, Tata Motors by 3 per cent and MahindraMahindra by 2.6 per cent.

However, those which gained marginally were Bharti Infratel, Dr Reddy's Power Grid Corporation and Kotak Mahindra Bank.

Meanwhile, Asian markets fell following a slump on Wall Street overnight. A series of warnings from US Federal Reserve officials over the resilience of economic recovery left investors nervous.

MSCI's broadest index of Asia Pacific shares outside Japan tumbled by 1.35 per cent on broad losses across the region.

Chinese blue-chips dropped by 1.09 per cent, Hong Kong's Hang Seng fell 1.72 per cent, Seoul's Kospi sank 1.73 per cent and Japan's Nikkei fell 0.74 per cent. (ANI)

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