Sensex Tanks 421 Points In A Highly Volatile Trade; Reliance Industries Top Loser

Markets in a highly volatile trade today ended sharply in the red on mixed cues. Investors sold into the recent rally in the IT stocks as well as outperformance in the RIL stock. Nifty ended lower by 97 points holding on to levels of 11200 points, while Sensex was down 421 points at 38071.

Maruti Suzuki posted first quarterly loss in 15 years on low sales amid lockdown. The stock dived as much as 2.5% to end at Rs. 6172.

MCX stock even amid the negative sentiment on an overall basis stood apart because of relentless rally in gold prices and touched a new high of Rs. 1792.10, but settled lower.

Indigo is also due to announce its results and it is feared that loss at the airline company could be at Rs. 797 crore as per the most optimistic estimates. Ahead of its results, stock of Interglobe aviation, the parent company of Indigo ended lower.

Meanwhile, European markets after mixed earnings data were up marginally while investors were watchful of the US Fed outcome to come later today. Also, Japan's Nikkei fell on weak earnings season.

Rupee ended the trading session at 74.79 per US dollar while trading in a range.

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