NEW DELHI: Equity indices finished in red on Tuesday with the benchmark BSE sensex falling over 400 points, dragged by financial stocks, as investors fretted over the rising number of Covid cases in the country.
After opening on a positive note, the 30-share BSE index parred all gains and fell 413 points or 1.20 per cent to close at 33,957; while the broader NSE Nifty fell 121 points or 1.19 per cent to finish at 10,047.
Top losers in the sensex pack included ICICI Bank, Bharti Airtel, HDFC Bank, Bajaj Finance, Kotak Bank and Axis Bank with their shares falling as much as 3.15 per cent.
While IndusInd Bank, Sun Pharma, M&M, HDFC and ITC were the top gainers with their stocks rising up to 2.71 per cent.
On the NSE platform, sub-indices Nifty Media and Bank plunged as much as 3.29 per cent.
According to analysts, domestic market succumbed to profit-booking at higher levels as concerns over rising number of Covid-19 cases in the country outweighed the optimism over reopening of the economy.
“Given the fact that the psychological impact on consumers has been so severe, it will be foolhardy to believe that we will go back to pre-Covid normalcy anytime soon,” Ajay Bodke, CEO (PMS) at Prabhudas Lilladher told news agency Reuters.
“The fear of a resurgence in the number of cases once the lockdown is lifted is a real worry,” he added.
The number of infections in India spiked to over 2,66,5oo, while the death toll rose to over 7,400, according to the health ministry.
Meanwhile, the rupee pared initial gains to close 6 paise lower at 75.61 (provisional) against the US dollar, tracking muted domestic equities and strengthening American currency in the overseas market.
On a net basis, foreign institutional investors bought equities worth Rs 813.27 crore in the capital market on Monday, provisional exchange data showed.
(With agency inputs)