Markets end with deep cuts, Sensex tanks 661 points

Except for Nifty pharma, all sectoral indices at the National Stock Exchange were in the red.

Markets end with deep cuts, Sensex tanks 661 points

New Delhi: Markets ended with deep cuts on Tuesday dragged by losses in Financial, auto and metal stocks.

Analysts believe that growing concerns about rising COVID-19 cases and fresh round of lockdown in several states have weighed on investor sentiments.

The BSE Sensex tanked 660.63 points or 1.8 percent lower at 36,033 while the Nifty 50 tumbled by 195.35 points or 1.81 percent to close at 10,607.

Except for Nifty pharma, all sectoral indices at the National Stock Exchange were in the red.

India’s wholesale price-based inflation declined 1.81 percent in June due to decline in prices of fuel and power, official data showed on Tuesday. The rate of deflation in May was 3.21 percent.

The Indian rupee tumbled 23 paise to settle at 75.42 (provisional) against the US dollar on Tuesday as risk appetite remained weak amid heavy selling in domestic equities and strengthening American currency.

In the previous session on Monday, the BSE Sensex ended 99.36 points or 0.27 percent, higher at 36,693.69. Similarly, the NSE Nifty closed 34.65 points, or 1.15 percent, up at 10,802.70 -- losing about 80 points from the day's high.