Sensex Ends Lower As Second Wave Of Covid-19 Fears Grip Global Markets

Benchmark indices ended the day sharply lower, as worries over a second wave of Covid-19 infections gripped global markets. Fresh new infections in China, coupled with a rising number of Covid-19 infections in a number of states in the US came back to haunt global markets.

Dow Futures fell sharply by more than 2 per cent, while the European markets were also down nearly 2 per cent and Asia closed lower. The Sensex ended the day with losses of 588 points, as banking stocks led the declines.

IndusInd Bank and Axis Bank were the biggest losers from the Nifty. Other losers from the Nifty being BPCL, Bajaj Finance and ICICI Bank. Among the top Nifty gainers were BPCL, Wipro and HCL Tech.

Shares in Tata Power gained after the company's wholly-owned subsidiary Tata Power Renewable Energy received a Letter of Award from the Gujarat Urja Vikas Nigam to develop a 120 MW solar project in Gujarat.

Lakshmi Vilas Bank was up 5 per cent, after the lender has informed the exchanges that it has received preliminary, non-binding Letter of Intent (LoI) from Clix Capital and Clix Finance India. The stock was locked at the upper end of the circuit filter.

Meanwhile, the rupee ended the day below the 76 levels mark at 76.03 against the green back.