Sensex Ends Below 50,000 On Profit Booking; Metals And PSE Space Worst Hit

After starting on a strong note and Sensex climbing 50000 levels for the first time on hopes of a huge US stimulus plan, indices failed to sustain their uptrend and towards the end of the session. At close, Sensex and Nifty ended at 49624 and 14590, respectively. on sudden sell-off. Broader markets also underperformed headline indices with losses of over 1 percent and Nifty Bank was also down by the same quantum.

The fall comes even as the RBI in its report said that the recovery is getting stronger and the economy has come out of the pandemic crisis.

Among top gainers have been stocks like Tata Motors, Bajaj Finance, Reliance, HDFC Bank and Bajaj Finserv, while losers include ONGC, Tata Steel, GAIL, Cipla and Coal India.

PSBs and metal stocks lost a great deal due to sudden sell-off which gripped the markets towards the close of the trading session. Realty is another sector that was hit in the volatile session with losses of over 2%

Two wheeler manufacturing company Bajaj Auto reported a 23% YoY jump in profit for the Q3 of FY21.

Some of the scrips including Bajaj Twins, Reliance Industries and Tata Motors extended their earlier gains amid losses and gains.

Meanwhile, European indices were trading mixed with DAX index only up at the time of writing this copy.

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