Sensex Ends 190 Points Lower, Reliance Loses 6 percent

Benchmark indices ended the day lower for the second straight day, led by losses in select heavyweight stocks like HDFC Bank and also Reliance Industries.

Global markets were also lower, after reports of a resurgence in fresh cases of the Coronavirus, after lockdown measures were eased. Most of Asia ended the day with losses.

The Sensex closed with losses of 190 points at 31,171 points, while the Nifty dropped below the 9,200 points mark to end the day at 9,196 points.

According to reports Wuhan reported five new confirmed Covid-19 infections on Monday, casting doubts over the complete abatement of Covid 19 cases in the city. Wuhan was where the pandemic is believed to have originated.

Among the top losers from the Nifty were Reliance Industries, Kotak Mahindra Bank, GAIL and Cipla.

Vedanta, NTPC and Bhari Airtel were among the gainers. Shares in Piramal Enterprises dropped more than 4 per cent, after the company reported big loss in the quarter ended March 2020 due to higher provisions and tax adjustments.

Shares in Bandhan Bank ended the day lower ahead of results to be declared later by the bank. Shares in Sterlite Technologies ended the day higher, despite a plunge in net profits.

Meanwhile, most of Asia ended the day with cuts of near 1 per cent, after reports of resurgence of covid 19 infections. Losses were led by the Hang Sang, which was the lost more than 1 per cent in trade.