Market Wrap, Sept 24: Here's all that happened in the markets today
US economic recovery is slowing as the coronavirus outbreak lingers, while a renewed wave of Covid-19 cases in Europe have led to reimposed travel restrictions in several countries
BS Web Team New Delhi
 "Bear market, markets, bse, nse, sensex, nifty")
The Indian stock market slumped on Thursday, the last of day of the futures & options (F&O) contracts for September series amid weak global cues.
The benchmark S&P BSE Sensex tumbled 1,115 points, or 3 per cent to settle at 36,554. Barring HUL (up 0.36 per cent), 29 constituents of the index declined. IndusInd Bank (down 7 per cent) ended as the biggest loser on the index.
NSE's Nifty settled at 10,806, down 326 points or 2.93 per cent. India VIX zoomed over 12 per cent to 23.57 levels.
In the broader market, the S&P BSE MidCap index dropped 2.14 per cent to 13,933 levels while the S&P BSE SmallCap index slipped 2.28 per cent to 14,168 levels.
On the sectoral front, all the indices on the NSE ended in the red. Nifty IT and Nifty Metal slipped over 4 per cent each while Nifty Bank fell nearly 3.5 per cent to 20,457 levels.
Global markets
Asian shares fell on Thursday following a slump on Wall Street overnight, as a series of warnings from US Federal Reserve officials underscored investor worries over the resilience of the economic recovery.
MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 1.35 per cent in the morning session on broad losses across the region.
In commodities, oil prices dropped weighed down by concerns that US economic recovery is slowing as the coronavirus outbreak lingers, while a renewed wave of Covid-19 cases in Europe have led to reimposed travel restrictions in several countries.
Prime Minister Boris Johnson has announced a slew of coronavirus restrictions for England in the wake of a fresh spike in the number of Covid-19 infections. These new measures may last for six months, if there is no improvement in the pandemic situation, Boris Johnson told UK Parliament on September 22. Investors fear that more such restrictions could be put in place across major global economies as the cases continue to rise.
Meanwhile, India on Wednesday recorded 89,688 coronavirus cases, taking its total caseload to 5,730,184. Prime Minister Narendra Modi chaired a high-level virtual meeting with chief ministers and health ministers of Maharashtra, Andhra Pradesh, Karnataka, Uttar Pradesh, Tamil Nadu, Delhi and Punjab on Wednesday and asked states to reassess if lockdowns of one or two days are effective in containing Covid-19.
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Topics :CoronavirusMARKET WRAPSensex
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First Published: Sep 24 2020 | 4:55 PM IST
