Sensex tumbles 465 points, pharma stocks drag

ANI
04 May 2021, 21:27 GMT+10

Mumbai (Maharashtra) [India], May 4 (ANI): Key equity indices were on a downward swing on Tuesday as the fear of continuous rise in Covid cases and extended lockdowns in various states capped market sentiment.

Investors said the strong quarterly earnings season have been supportive but poor progress on the vaccination front dented market sentiments.

The BSE SP Sensex closed 465 points or 0.95 per cent lower at 48,254 while the Nifty 50 tumbled by 138 points or 0.94 per cent to 14,497.

Except for Nifty PSU bank which jumped by 3.4 per cent, all sectoral indices at the National Stock Exchange were in the negative terrain.

Among stocks, Tata Consumer Products dipped by 4.3 per cent to Rs 648 per share and Reliance Industries lost by 2.1 per cent to wind up the day at Rs 1,918.

Cipla was down by 3.1 per cent, Dr Reddy's by 2.1 per cent and Sun Pharma by 2 per cent. The other major losers were Hindalco, HDFC, HDFC Bank and Infosys.

However, those which gained were SBI Life, ONGC, Adani Ports, Bajaj Finance and Kotak Mahindra Bank.

Meanwhile, Asia's share markets were mostly higher as regional equity investors looked to signs of recovery from the coronavirus pandemic while major economies around the world reopen.

Hong Kong's Hang Seng Index was 0.7 per cent higher while South Korea's Kospi moved up by 0.64 per cent. Japan and mainland China's markets remained closed for holidays, dampening trading volumes across the region.

(ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Jamaican Times.

More Information

27 ℃

Mostly Cloudy in Kingston

Business

Section

Wall Street opens new week with moderate losses

NEW YORK, New York - U.S. stocks were on the defensive on Monday following the release of disappointing economic data.The ...

U.S. inspecting wire failure on Boeing 737 following Indonesian crash

WASHINGTON D.C.: Operators of Boeing 737 Classic aircraft have been ordered to check for possible wire failures, following an investigation ...

Airbnb up 52% as travel begins to recover

SAN FRANCISCO, California: As more people become vaccinated against COVID-19 and restrictions are eased, Airbnb's gross bookings have jumped 52 ...

Nikkei 225 drops 260 points, other Asian markets drift higher

SYDNEY, NSW, Australia - Stocks in Asia were mixed on Monday with major falls in Japan, and most moves upwards ...

Streaming Disney audience falls, disappointing Wall Street

BURBANK, California: Disney Company's streaming platform failed to register expected growth on May 13, eclipsing higher-than-anticipated gross earnings, witnessing a ...

With 10,000 vacancies, McDonalds boosts pay for food workers

CHICAGO, Illinois: McDonald's Corporation announced on May 12 that it would increase the average hourly pay at its 660 corporate-owned ...

International

Section