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  • Sensex slumps 650 pts; auto stocks correct
  • October 26,2020  14:23
  • The main stock indices were trading with steep losses in mid afternoon trade. Selling pressure was broad based with metal and auto stocks losing the most. At 14:26 IST, the barometer index, the S&P BSE Sensex, tumbled 650.46 points or 1.6% at 40,035.63. The Nifty 50 index slipped 187.15 points or 1.57% at 11,743.20.

    Surging coronavirus cases throughout Europe weighed on investors' sentiment. The US also reported a record number of daily COVID-19 infections on Friday. The US Dow Jones index futures were down 248 points, indicating a weak opening in the US stocks today.

    The broader market traded with losses. The S&P BSE Mid-Cap index was down 1.8% while the S&P BSE Small-Cap index fell by 0.95%.

    Sellers outpaced buyers. On the BSE, 900 shares rose and 1684 shares fell. A total of 163 shares were unchanged.

    COVID-19 Update:

    India reported 653,717 active cases of COVID-19 infection and 119,014 deaths while 7,137,228 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India. Total COVID-19 confirmed cases worldwide stood at 42,926,013 with 1,152,990 deaths, according to data from Johns Hopkins University.

    RBI Governor Shaktikanta Das on Sunday tweeted that he has been tested positive for COVID-19 but he is asymptomatic. He assured that work in RBI will go on normally.

    Numbers to Track:

    In the foreign exchange market, the partially convertible rupee fell to 73.845 compared with its previous closing 73.61.

    The yield on 10-year benchmark federal paper fell to 5.835% compared with its closing of 5.844% in the previous trading session.

    MCX Gold futures for 04 December 2020 settlement declined 0.3% to Rs 50,689.

    In the commodities market, Brent crude for December 2020 settlement lost $1.18 to $40.59 a barrel.

    Buzzing Index:

    The Nifty Auto slumped 3.56% to 7,806.15 amid profit selling. The index had closed 2.75% higher in previous trading session.

    Hero MotoCorp (down 7.44%), Bajaj Auto (down 6.07%), Ashok Leyland (down 3.85%), Motherson Sumi Systems (down 3.62%), Tata Motors (down 3.54%), Mahindra & Mahindra (down 3.46%), TVS Motor Company (down 3.38%), Balkrishna Industries (down 3.33%), Eicher Motors (down 3.12%) and Bosch (down 2.8%) were top losers in automobile segment.

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