Sensex ends 300 points lower, Nifty below 11,200

Sensex ends 300 points lower, Nifty below 11,200

MUMBAI [Maha Media]: Indian shares settled lower on Tuesday tracking weakness in global peers and a sharp sell-off in the previous session, as rising global covid-19 cases weighed on sentiment. Sensex ended at 37,734.08, down 300.06 or 0.79%, while Nifty dropped 76.55 points or 0.68% to close at 11,174.

HCL Tech, closing 3% higher, was the top Sensex gainer followed by TCS, Sun Pharma, TechM and ICICI Bank. Maruti Suzuki, IndusInd Bank and Axis Bank were among the laggards. Of 30 Sensex shares, 21 closed in the red.

Indian market was subdued following continued selling in other major markets across the globe due to fresh worries over another round of restrictions due to increase in COVID-19 cases, which could harm the already sluggish economic recovery, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.

During the afternoon session market briefly tried to recover, but failed to sustain as fresh selling across the broader markets returned, he added.

Bourses in Shanghai, Hong Kong and Seoul ended with losses, while stock exchanges in Europe opened on a positive note.

Meanwhile, global oil benchmark Brent crude was trading 1.30 per cent higher at USD 41.98 per barrel.

In the forex market, the rupee depreciated 20 paise to close at 73.58 against the US dollar.

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