Sensex and Nifty slipped on the first trading session of this week as rising cases of Delta variant of Covid-19 threatened to derail global economic recovery.
Sensex closed 586 points lower at 52,553 and Nifty fell 171 points to 15,752. HDFC Bank was the top loser on Sensex, shedding 3.34 per cent, followed by IndusInd Bank , HDFC and Axis Bank.
On the other hand, NTPC, Nestle India, Dr Reddy's and Sun Pharma were among the only Sensex gainers, rising up to 1.89%.
However, BSE midcap and small cap indices fell 134 points and 81 points, respectively.
Banking stocks were the top losers with BSE bankex falling 711 points to 39,788.
Other major sectoral losers were consumer durables and metal shares whose BSE indices lost 303 points and 278 points, respectively.
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said, "The daily chart shows that the selling was absorbed near a rising trendline drawn from the previous crucial swing lows. So the index is trading near the support zone of 15700-15600. The index is expected to recover as long as it stays above 15600 on a closing basis. On the higher side, the index can head back towards the hurdle zone of 15960-16000, which holds the key for larger upside."
Market cap of BSE-listed firms fell to Rs 233.21 lakh crore.
However, market breadth was positive 1,757 shares rising against 1,571 stocks falling on BSE. 164 shares were unchanged.
Meanwhile, rupee fell 31 paise to end at 74.88 against the US currency, marking its second straight session of loss amid a lacklustre trend in domestic equities and strengthening of the greenback overseas.
The currency hovered in the range of 74.71 to 74.92 during the day. Rupee has lost 34 paise in the last two trading sessions.
Global shares fell Monday amid deepening pessimism over rising COVID-19 infections in most parts of Asia.
France's CAC 40 shed 1.1 per cent in early trading to 6,388.62, while Germany's DAX was down 1.1 per cent at 15,370.28.
Britain's FTSE 100 dipped 1.5 per cent to 6,906.69. The future for the Dow Jones Industrial Average dropped 0.8 per cent to 34,283.5. The future for the S&P 500 lost 0.6 per cent to 4,294.38.
Japan's benchmark Nikkei 225 shed 1.3 per cent to finish at 27,652.74.
South Korea's Kospi slipped 1.0 per cent to 3,244.04. Australia's S&P/ASX 200 dipped 0.9 per cent to 7,286.00. Hong Kong's Hang Seng fell 1.8 per cent to 27,489.78, while the Shanghai Composite lost a fraction of 1 point to 3,539.12.
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