Stocks

Sensex crashes over 1,900 pts; Nifty tanks 568 pts

BL Internet Desk | Updated on February 26, 2021

Rising bond yields seem to have eroded investor interest in riskier equities

The BSE benchmark Sensex nosedived about 1,940 points to settle just above the 49,000-level on Friday, tracking massive sell-offs in world equities after a rout in global bond markets spooked investors.

The 30-share BSE index ended with a loss of 1,939.32 points or 3.80 per cent at 49,099.99.

Similarly, the broader NSE Nifty plunged 568.20 points or 3.76 per cent to close the session at 14,529.15.

All 30 Sensex constituents ended in the red.

ONGC was the top loser, shedding around 6.50 per cent, followed by M&M, Bajaj Finserv, Axis Bank, Kotak Bank, PowerGrid, HDFC Bajaj Finance and ICICI Bank.

Sectorally, banking index suffered maximum loss with over 4.8 per cent drop. Financial and telecom indices too fell sharply by 4.9 per cent and 3.85 per cent, respectively.

Elsewhere in Asia, bourses closed with heavy losses.

Stock exchanges in Europe were also trading with losses in mid-session deals.

Analysts said that rising bond yields seem to have eroded investor interest in riskier equities, adding the bond market cues often reflect in equity markets.

Meanwhile, the global oil benchmark Brent crude was trading 1.16 per cent lower at $65.34 per barrel.

 

 

Published on February 26, 2021

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