Sensex crashes 1,939 points, Nifty ends below 14,550 amid global selloff

27/02/2021

Mumbai, FEB 26: The benchmark equity indices on the BSE and National Stock Exchange (NSE) fell nearly 4 per cent lower on Friday tracking the weakness in global equity markets which fell as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.
The S&P BSE Sensex crashed 1,939.32 points (3.80 per cent) to settle at 49,099.99, while the broader Nifty 50 ended at 14,529.15, down by 568.20 points (3.76 per cent). During the day’s trade the Sensex fell as much as 2,148.83 points to hit a low of 48,890.48, while the Nifty slipped as much as 629.60 points to touch a low of 14,467.75.
On Thursday, the 30-share BSE benchmark ended 257.62 points (0.51 per cent) higher at 51,039.31. While the Nifty rose 115.35 points (0.77 per cent) to 15,097.35.
HDFC twins, comprising of HDFC Bank and mortgage lender Housing Development Finance Corporation (HDFC) were the leading contributors to the fall in BSE benchmark. They were followed by ICICI Bank, Kotak Mahindra Bank and oil-to-telecom giant Reliance Industries (RIL).
Among the sectoral indices on NSE, the key Bank Nifty was down nearly 4 per cent in the afternoon session of trade on Friday dragged by Kotak Mahindra Bank, RBL Bank and Axis Bank. The Nifty Financial Services index too was down over 4 per cent weighed by Mahindra & Mahindra Financial Services, Shriram Transport Finance Company and HDFC.
Coming to the broader market indices, the S&P BSE MidCap was trading at 20,046.82, down 286.98 points (1.41 per cent) at 2:43 pm. During this period, the S&P BSE SmallCap index was down 89.35 points (0.44 per cent) at 20,215.63.
The volatility index or India VIX was up 18.07 per cent at 27.0300.
Global market
Asian stocks fell by the most in nine months on Friday as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.
In a sign the gloomy mood will reverberate across markets, European and US stock futures were a sea of red. Eurostoxx 50 futures lost 1.7 per cent while futures for Germany’s DAX and those for London’s FTSE dropped 1.3 per cent each.

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