Markets

Sensex, Nifty Plunge Over 2% Amid Global Selloff

(RTTNews) - Indian shares ended deep in the red on Thursday, tracking weak global cues amid uncertainty over U.S. fiscal stimulus and renewed restrictions in European countries to stem the possible second wave of coronavirus infections.

Closer home, credit rating agency Moody's Investors Service said today that India's fiscal position "remains very weak" and that the government's latest fiscal stimulus measures will have a minimal impact on the country's growth prospects.

The benchmark S&P BSE Sensex fell as much as 1,066.33 points, or 2.61 percent, to 39,728.41, snapping a ten-day winning streak. The broader NSE Nifty index ended down 290.70 points, or 2.43 percent, at 11,680.35.

Reliance Industries, IndusInd Bank, ICICI Bank, Tech Mahindra and Bajaj Finance fell 4-5 percent in the Nifty pack.

IT services firm MindTree slumped 7.3 percent ahead of its earnings release.

Infosys ended down 2.1 percent, giving up earlier gains after reporting upbeat quarterly results, helped by better margins.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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