Markets

Sensex crashes 746 points as profit-taking deepens

PTI Mumbai | Updated on January 22, 2021

Widespread profit-booking hammered stocks for the second straight session on Friday, with the Sensex tanking 746 points and the Nifty crashing below the 14,400-mark. A day after touching the historic 50,000-level, the Sensex found it tough to sustain itself at higher levels as investors offloaded Reliance Industries ahead of its results, while banking and finance counters also bore the brunt of heavy selling amid lacklustre global cues.

The BSE Sensex tumbled 746.22 points or 1.50 per cent to finish at 48,878.54, posting its largest single-session drop in a month. Similarly, the NSE Nifty slumped 218.45 points or 1.5 per cent to 14,371.90.

Axis Bank was the biggest laggard among the Sensex constituents, skidding 4.63 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance Industries. On the other hand, Bajaj Auto stole the show by surging 10.45 per cent. Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the other gainers, advancing up to 1.76 per cent.

Sector-wise, the BSE Metal, Bankex, Realty, Finance and Energy indices dived as much as 3.77 per cent, while auto and IT rose up to 1.49 per cent. In the broader markets, the BSE Midcap and Smallcap indices slumped up to 2.02 per cent.

‘Stock market momentum is nothing spectacular’

 

 

Published on January 22, 2021

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