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Sensex Trembles With 1600 Points Fall; Financials And Banks Weigh


With weakness on the banking and financial pack and marred by weak global cues on inflationary concern which led to a rally in US Treasury yield to 1-year high, there was a drag on the indices by a huge quantum. On day's low, Sensex went lower to 49385, with a decline of over 3 percent.

Sensex Trembles With 1600 Points Fall; Financials And Banks Weigh

1. Heavyweights fall: RIL, HDFC Bank, Axis Bank all led the fall. Primarily all of the indices traded in the red barring pharma which saw some minor strength.

2. GDP Data Eyed:

For the quarter ended December, the NSO or National Statistical Office will release GDP number today. Analysts are optimistic on the growth prospects and see GDP to be over 0% for the quarter under review. This shall mark a return to a positive trajectory after two-quarters of a deep slide.

3. Corona conditions also weigh:

Corona situation is worsening at some of the places and while experts do not see much of the impact as the treatment is now available, nonetheless it remains an overhang on the markets The country's total tally of COVID-19 cases to 1,10,46,914, according to the Union Health Ministry data updated on Thursday.

4. Higher US yield:

This scenario i.e. the rise in bond yield makes equities less attractive as for attracting investors interest, equities need to pay off substantially high. And the factor pushing the yield higher is the inflationary concerns as global economies are opening up their liquidity tap.

Read more about: stock markets
Story first published: Friday, February 26, 2021, 12:14 [IST]
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