Sensex & Nifty bleed, banks tumble; Tata Consumer dips by 7 per cent, BEL plunges 8 per cent
Starting the expiry week of the September, the domestic markets were volatile on Monday. Later during the day, the indices plunged, owing to the global sell-off cues as well as due to FinCEN leaks. Sensex slid by 811.68 points or 2.09 per cent to close at 38,034.14 while Nifty declined by 283.25 points or 2.46 per cent to settle at 11,221.70.
As per market reports, between 2010 and 2017, many Indian banks, helped to facilitate transactions red-flagged by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) for suspected money laundering, terrorism, drug dealing, and financial fraud.
As the cases of Coronavirus surged globally, investors in other Asian and European markets remained cautious. Shanghai index was down by 0.63 per cent while Hang Seng and KOSPI fell by 2.06 per cent and 0.95 per cent, respectively. A resurgence of Coronavirus cases in the UK and elsewhere in Europe could mean that the UK could be headed towards another mini lockdown. FTSE 100, CAC 40, and DAX plunged by 3.48 per cent, 3.25 per cent and 3.33 per cent, respectively.
Meanwhile, the rupee ended at 73.38 per US dollar against its previous close of 73.45 per US dollar.
Sensex gainers included Kotak Mahindra Bank that went up by 0.86 per cent, Infosys rose by 0.67 per cent and TCS gained by 0.57 per cent. Sensex draggers consisted of IndusInd Bank, which went down by 8.67 per cent, Bharti Airtel fell by 5.81 per cent, Tata Steel plunged by 5.58 per cent, ICICI Bank decreased by 5.15 per cent, Mahindra & Mahindra decreased by 4.90 per cent, Maruti Suzuki fell by 4.90 per cent, Axis Bank declined by 4.52 per cent, etc.
Amongst sectoral indices on BSE, Realty was the biggest loser, which was down by 5.57 per cent while BSE Telecom index fell by 5.55 per cent. BSE Finance index and BSE Bankex declined by 2.35 per cent and 2.74 per cent, respectively, and BSE Metal index fell by 4.67 per cent. BSE Small-Cap index and BSE Mid-Cap index declined by 3.61 per cent and 3.43 per cent, respectively.