Indian Markets Close Monday in the Red

The Indian benchmark indices have opened the week on a bleak note as both S&P BSE Sensex and NSE Nifty 50 dropped over 1.6% each. Falling global indices and a sharp rise in the number of coronavirus infections have been attributed as the reasons behind the indices closing Monday in the negative terrain.

The S&P BSE Sensex closed the day at the 33,228.80 level. It tanked 1.63% or 552 points. ICICI Bank, ITC, and the HDFC duo led the fall of the index. On the other hand, the Sensex index received the much-needed support from Reliance Industries, which recorded its all-time high at Rs 1,626.70 a share. 

The broader markets had a good outing on Monday as they outperformed the benchmark indices. The S&P BSE MidCap index shed 145.20 points or 1.15% to close the day at 12,454.95 points. On the other hand, the S&P BSE SmallCap index closed Monday flat at the 11,844.85 levels. 

Also Read: Indian Benchmark Indices Close the Day Over 0.65% Higher

The NSE Nifty 50 as well went on the losing trend today. It lost as much as 1.60% or 159.20 points to close Monday at 9,813.70 points. Due to the fall in the Indian equity markets, India VIX, the volatility gauge, shot up more than 5.69% or 32.58 points to end the day at 32.71 levels. 

Coming to the sectoral indices on the National Stock Exchange, apart from the Nifty Media and Nifty PSU Bank, all other indices plummeted. The NNSE Nifty Media index shot up 11.25 points or 0.87% to close the day at 1,298.80 points. 

The NSE Nifty PSU Bank zoomed 1.44% or 19.45 points to end Monday at 1,371.50 points. The NSE Private Bank collapsed almost 4% to warp up the day at 10,946.30 points, and the NSE Nifty Private Bank dropped nearly 3.5% to close the day at 19,912.90 levels. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in