The key Indian equity indices continued to decline on Thursday, with the BSE Sensex losing over 800 points. In the case of Nifty, it was done by almost 260 points. All sectoral indices were down, but it was banking, IT, telecom and auto that was dragging the market.
This slump could be due to rising COVID-19 cases in India as well as several European countries, adding to it is hardening of bond yields and rising inflation among other factors.
At 1.10 pm, Sensex was at 48,245.35 points. Reliance Industries, HDFC Bank, Axis Bank, Infosys, ITC among others were the top losers.
At around 1.09 pm, Reliance Industries share was down by 40.35 points and was trading at Rs 2,006.95 per piece. Meanwhile, stocks of HDFC Bank, Axis Bank, Infosys and ITC were down by 27.20 points, 24.95 points, 16.85 points and 6.15 points.
In the previous session, the Sensex ended 871.13 points or 1.74 per cent lower at 49,180.31, and the Nifty declined 265.35 points or 1.79 per cent to 14,549.40.
Meanwhile, shares were mixed in Asia, as Chinese benchmarks stalled on concerns over big companies that might lose their listings on US exchanges. Tokyo's Nikkei 225 index jumped 1.1 per cent and Seoul and Sydney logged modest gains. Hong Kong and Shanghai were flat, according to an Associated Press report.