Stock markets fall for sixth consecutive day, Sensex plunges over 1,100 points

Nifty fell below the 11,000 mark for the first time since August 4.
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Indian stock markets tanked for the sixth consecutive day on Thursday, with the equity benchmark Sensex crashing over 1,000 points, ending 1,114.82 points down. It had plunged over 600 points in early trade, tracking massive sell-off in global stocks amid heavy foreign fund outflow.

Meanwhile, Nifty lost 326.30 points, going below the 11,000 mark for the first time since August 4. In early trade, it had cracked 169.40 points or 1.52% to 10,962.45.

The market capitalisation of the Bombay Stock Exchange (BSE) fell by Rs 3.75 lakh crore on Thursday, with both Sensex and Nifty posting their biggest intra-day fall in around four months.

As per reports, rising COVID-19 cases again in Europe sparked fresh concerns among investors about the possibility o fresh lockdowns or restrictions.

All Sensex stocks were in the red with M&M, Tata Motors, Bajaj Finance, IndusInd Bank, Maruti, Axis Bank, Bajaj Finserv and ICICI Bank shedding up to 3 per cent.

Looking at sector-specific indices, IT and Metal indices lost 4% each. They were followed by the auto, psu bank, infra and realty stocks, which were around 3% down.

In the previous session, Sensex settled 65.66 points or 0.17 per cent lower at 37,668.42, while Nifty shed 21.80 points or 0.20 per cent to close at 11,131.85.

Exchange data showed that foreign institutional investors sold equities worth Rs 3,912.44 crore on a net basis on Wednesday.

According to traders, heavy sell-off in US equities in overnight session, negative cues from Asian peers and foreign fund outflow hit investor sentiment here.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with heavy losses in mid-day deals tracking weakness on Wall Street.

Stock exchanges in the US ended up to 3 per cent lower in overnight session on concerns over economic recovery.

Meanwhile, international oil benchmark Brent crude was trading 1.03 per cent lower at USD 41.34 per barrel.

With PTI inputs

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