Sensex Breaks Below 50,000 Pts As Rising Covid 19 Cases Weigh

Indices in the afternoon trade extended their early losses as investors weighed rising Covid 19 cases in the country. At the close, Sensex went lower by 562 pts. To 49801, while Nifty fell 189 pts. or 1.27% to 14721 . Bank Nifty too fell close to 2 percent during the session. At the same time, broader markets underperformed the headline indices, with Nifty Midcap 100 dragged down by over 2.5% towards the close of the session.

Top gainers on the Nifty in otherwise weak market in today's deal were ITC, Divis Labs, HDFC, Infosys and TCS, while top laggards included stocks like ONGC, BPCL, Tata Motors, Adani Ports and Coal India.

All the Nifty sectoral indices were painted red in today's deal with maximum weakness in the Nifty PSU Bank and Nifty Media.

Shares of Vedanta hit a fresh 52-week high of Rs 230 today after the promoter, Vedanta Resources Plc, raised the open offer price for buying shares in flagship Indian firm to Rs 235 per share from Rs 160 per share earlier.
Shares of Dalmia Bharat surged 11 per cent to Rs 1,690.60 after the Supreme Court ordered IL&FS Securities Services (ISSL) to release mutual fund units worth Rs 344 crore to the Dalmia Bharat Group.

Meanwhile, at the time of writing this copy, European indices too traded with losses, with FTSE down the most by 0.28%.

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