Markets tumble from record highs on profit-booking

November 25, 2020 17:30

Equity markets' record run screeched to a halt on Wednesday as investors pocketed gains in banking, finance and IT counters amid a mixed trend overseas.

Snapping a three-day winning streak, the 30-share BSE Sensex slumped 694.92 points or 1.56 per cent to finish at 43,828.10. The index touched a lifetime high of 44,825.37 in the opening session.

Similarly, the broader NSE Nifty touched a record intra-day peak of 13,145.85, before ending 196.75 points or 1.51 per cent down at 12,858.40. Kotak Bank was the top loser in the Sensex pack, skidding 3.22 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance, Asian Paints, Bharti Airtel, Infosys and Tech Mahindra.

Only three index components closed in the green -- ONGC, PowerGrid and IndusInd Bank, jumping up to 6.25 per cent. Global equities were mixed after the US' Dow Jones Industrial Average breached the 30,000-mark for the first time in the overnight session on COVID-19 vaccine optimism. Reports that US President-elect Joe Biden would appoint former Federal Reserve chair Janet Yellen as Treasury Secretary also cheered investors. -- PTI

« Back to LIVE

TOP STORIES

Not changing 2G judgment, non-auction allocation only for...: Sources

The government is not seeking to change the 2012 Supreme Court judgment that backed auction as the preferred mode of allocating telecom spectrum except for narrowly defined sectors such as satellite communication and defence where the...

It's Modi govt that wanted to bring inheritance tax: Cong

Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi...

'Can't control polls': SC to EVM critics as it reserves order

The Supreme Court said on Wednesday it cannot 'control the elections' or issue directions simply because doubts have been raised about the efficacy of Electronic Voting Machines (EVM), as it reserved its judgment on a clutch of petitions...

Modi's 'redistribution' charge against Cong gets Pitroda's booster

In his poll rallies, Modi framed Pitroda's comments in his wider onslaught against the Congress, asserting that they have exposed its hidden agenda and that the party has become so removed from the country's social and family values that...

IPL PIX: Pant shines as spirited Delhi Capitals edge Titans

Rishabh Pant's belligerent unbeaten half-century helped Delhi Capitals' to a narrow four-run win over Gujarat Titans.