Sensex Slumps 694 Points From New Highs; Nifty Holds Above 12850; Eicher Motors Top Loser

From day's record high, benchmark indices towards the end in mid-week trade lost a huge over 1.5 percent. Primarily on weakness in auto, bank, IT and healthcare pack. Sensex ended the lower by 694 points while Nifty settled at 12855, dropping as much as 1.51%. Broader markets also lost on similar lines by as much as 1.65 percent of Nifty Midcap 100.

Nifty gainer in mid week's trade to November 27, 2020 have been ONGC, Gail, Adani Ports, SBI Life Insurance and Power Grid. While top losers are Eicher Motors, HDFC Bank, Kotak Mahindra Bank and Sun Pharma.

Sensex Slumps 694 Points; Nifty Holds Above 12850; Eicher Motors Top Loser

In the day's trade BSE Auto hit a 52-week high. Also, HDFC Bank while being the top loser in late trade on hitting new high got a market cap of Rs. 8lakh crore.

Also, while ONGC spurted in early trade by as much as 6 percent there are hopes that stocks from the sectors will continue to see further upside.

Moreover, after the Cabinet approved LVB and DBS merger, the stock of the former was locked in 5 percent upper circuit.

Meanwhile, European indices were up only on the French CAC that too was only marginal.