Market Benchmark Index Sensex ended 128.84 points or -0.38% lower to 33,980.70 during the closing session on Thursday. While the broader Nifty 50 slipped 32.45 points or -0.32% to 10,029.10.
Tech Mahindra, Sun pharma, Bharti Airtel, Power Grid, HCL Tech, Reliance, TCS, ITC, Hero Motors, Bajaj Auto among others were in the green while SBIN, M&M, Nestle India, Titan, ONGC, HDFC Bank,ICICI Bank, L&T, Kotak Bank and others were in the red on the Bombay Stock Exchange.
Earlier in the day, Sensex surged over 200 points in early trade on Thursday, led by strong buying in HDFC Bank, ICICI Bank, TCS and Reliance Industries amid persistent foreign fund inflow. After hitting a high of 34,310.14, the 30-share index was trading 124.02 points or 0.36 per cent higher at 34,233.56.
Similarly, NSE Nifty rose 41.65 points or 0.41 per cent to 10,103.20.
Market weakened further as India saw the single- largest one-day spike in COVID-19 cases, he said, adding the overhang of Supreme Court's statement on the ongoing interest moratorium case led to a selloff in financial stocks.
The Supreme Court has sought the finance ministry's reply on waiver of interest on loans during the moratorium period after the RBI said it would not be prudent to go for a "forced waiver of interest" risking financial viability of the banks.
The top court said there are two aspects under consideration in this matter -- no interest payment on loans during the moratorium period and no interest to be charged on interest.
Investors also closely monitored nationwide unrest over the death of African-American George Floyd as riots on top of the pandemic could cause lasting economic scars.
