Sensex Sinks 1,066 Pts As Europe Battles Second Wave Of Coronavirus

  • Sensex Sinks 1,066 Pts As Europe Battles Second Wave Of Coronavirus

Sensex Sinks 1,066 Pts As Europe Battles Second Wave Of Coronavirus

The S&P BSE Sensex plunged 1,066 points, or 2.61 per cent to end the day at 39,728 levels while NSE's Nifty settled at 11,680, down 291 points, or 2.43 per cent. India Vix, the volatility index, jumped over 9 per cent to 22.05 levels. On the other hand, Asian Paints, HDFC and Hero MotoCorp, up 1.74 per cent, 1.72 per cent and 1.61 per cent respectively, were the top Nifty gainers. However, the stocks trading with a negative bias were Tech Mahindra, Wipro, HCL Tech, TCS and ITC.

According to International Monetary Fund projections, India is set to drop below Bangladesh in terms of per capita Gross Domestic Product (GDP) as the economy is projected to contract by a massive 10.3 per cent this year.

Infosys Ltd's shares rose as much as 4.3% to a record high after the IT giant raised revenue outlook as robust demand for its digital services helped it to breeze past quarterly profit estimates.

Other Asian markets fell amid fading hopes of USA fiscal stimulus before the presidential election and a record number of new coronavirus infections in parts of Europe.

Downbeat comments from US Treasury Secretary Steven Mnuchin that a stimulus deal was unlikely be made before the November 3 vote weighed on fragile investor sentiment.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.5 percent while Japan's Nikkei dropped 0.5 percent.