Bears maul D-St

Mumbai, February 22

Falling for the fifth straight session, the Sensex plummeted 1,145 points while the Nifty crashed below the 14,700-level on Monday as across-the-board selling hammered stocks amid a prolonged spell of weakness in global equities.

A surprisingly firm trend in the rupee was not enough to bolster investor sentiment, which has been hit by rising Covid cases in multiple states and concerns on the valuation front, traders said.

Posting its biggest single-day slump in two months, the Sensex tumbled 1,145.44 points to close at 49,744.32. The Nifty sank 306.05 points to finish at 14,675.70. The Sensex has now lost 2,409.81 points in five sessions, while the Nifty has shed 639 points.

Dr Reddy’s top loser

Dr Reddy’s was the top loser in the Sensex pack on Monday, declining 4.77%, followed by M&M, Tech Mahindra, IndusInd Bank, Axis Bank and TCS

Only three index components finished in the green — ONGC, HDFC Bank and Kotak Bank, rising up to 1.14%

“Rising economic restrictions from spike in virus cases and weak global cues hit the domestic market sentiment. The rate of market fall was aggravated by a sharp rise in volatility, being a monthly F&O expiry week,”said Vinod Nair, Head, Research, Geojit Financial Services. — PTI

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