Sensex Falls Over 250 Points As Markets Halt 4-Day Winning StreakPage Visited: 5
Domestic stock markets started Thursday’s session on a weak note, halting a winning streak that lasted four consecutive days, as Asian equities receded from all-time highs amid widening restrictions in the US. The S&P BSE Sensex index opened 277.81 points – or 0.63 per cent – lower at 43,902.24, and the broader NSE Nifty 50 benchmark began the day at 12,839.50, down 98.75 points – or 0.76 per cent – from its previous close.
At 9:21 am, the Sensex traded 201.68 points – or 0.46 per cent – lower at 43,978.37 and the Nifty was down 50.85 points – or 0.39 per cent – at 12,887.40.
Analysts awaited news updates from a key Supreme Court hearing on interest waivers for loans under moratorium. The outcome of the case could have far-reaching consequences not only for millions of borrowers, but also for banks.
Share markets elsewhere in Asia eased from all-time highs on Thursday as widening COVID-19 restrictions in the US weighed on Wall Street, while bonds were underpinned by speculation the Federal Reserve would have to respond with more easing.
MSCI’s broadest index of Asia-Pacific shares outside Japan was last seen trading 0.50 per cent lower, though that was from a record peak. A jump in new cases in Tokyo resulted in the Nikkei 225 benchmark sliding 0.40 per cent lower, away from a 29-year closing top.
The E-Mini S&P 500 futures steadied, a day after the Dow Jones Industrial Average – one of the three US stock benchmarks – ended down 1.16 per cent. The S&P 500 and the Nasdaq shed 1.16 per cent and 0.82 per cent respectively on Wednesday.
Investors in the US weighed surging COVID-19 infections and mounting shutdowns against encouraging vaccine developments.