Sensex dives 1.7% as surging Covid cases infect sentiment

After plunging over 1,400 points earlier in the day, the 30-share BSE Sensex pared some losses to finish at 49,159.32, down 870.51 points or 1.74 per cent.

DOMESTIC EQUITY benchmarks wilted under widespread selling on Monday as a record single-day jump in Covid cases in the country unnerved investors and fanned fears over economic recovery.

A sharp plunge in the rupee added to the concerns, traders said.

After plunging over 1,400 points earlier in the day, the 30-share BSE Sensex pared some losses to finish at 49,159.32, down 870.51 points or 1.74 per cent.

Similarly, the broader NSE Nifty sank 229.55 points, or 1.54 per cent, to 14,637.80.

The rupee fell by 18 paise to close at 73.30 against the dollar.

Meanwhile, Wall Street’s main indices jumped over 1 per cent Monday, with S&P 500 and Dow at record high as investors cheered strong jobs and services sector data.

At 02:30 pm ET, the Dow Jones Industrial Average rose 385.96 points, or 1.16 per cent, to 33,539.17, and the S&P 500 gained 59.11 points, or 1.47 per cent, to 4,078.98, as per a Reuters report.

Brent crude for June fell $3.08, or 4.8 per cent, to $61.78 a barrel by 1:42 pm EDT.

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