Rude jolt: Sensex falls 580 points on weak global cues, Nifty ends at 12772

The markets received a reality check on Thursday after the unprecedented run-up this month. A sell-off in global markets amid renewed fears of lockdowns to curb the rise in Covid-19 cases dampened investor sentiment and triggered profit taking.

The benchmark Sensex closed at 43,600, down 580 points or 1.31 per cent, the sharpest fall since October 26. The Nifty50 index fell 167 points, or 1.3 per cent, to end at 12,772. The Bank Nifty index fell 2.9 per cent.

Analysts said the market had entered overbought territory and was precariously poised after the sharp run-up this month. The weekly expiry of derivatives