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Equity indices in the red, financials and metals lose shine
Equity benchmark indices fell by over 1 per cent during early hours on Monday amid weak global cues as coronavirus cases continue to surge across the world.
Mumbai: Equity benchmark indices fell by over 1 per cent during early hours on Monday amid weak global cues as coronavirus cases continue to surge across the world.
That dimmed the hopes of an early economic recovery and drove investors to safer assets like government bonds, gold and the US dollar.
At 10:15 am, the BSE S&P Sensex was down by 431 points or 1.23 per cent at 34,740 while the Nifty 50 edged lower by 130 points or 1.25 per cent at 10,253.
Except for Nifty FMCG and pharma, all sectoral indices at the National Stock Exchange were in the negative zone with Nifty metal down by 2.6 per cent, private bank by 2.3 per cent and financial service by 2 per cent. Among stocks, Bajaj Finance dropped by 4.3 per cent to Rs 2,778.85 per share while Bajaj Finserv slipped by 2.8 per cent to Rs 5,776.85.
MSCI's broadest index of Asia Pacific shares outside Japan eased by 0.2 per cent while Japan's Nikkei shed 1.5 per cent and South Korean stocks 1.4 per cent. (ANI)