Sensex dropped 1100 points in early trade on Monday after being dragged by losses in index majors HDFC twins, ICICI Bank and Reliance Industries, reported PTI.
Following are the top losers in the Sensex pack:
- IndusInd Bank
- Bajaj Finance
- Axis Bank
- SBI
- Bajaj Auto
- Bajaj Finserv
- ICICI Bank
- HDFC twins
- Reliance Industries
The Sensex fall comes a day after India recorded the highest single-day spike of more than one lakh COVID-19 cases. India on Sunday recorded 1,03,558 new COVID-19 cases, which is the highest single-day spike since the pandemic hit in March last year.
Binod Modi, the Head of strategy at Reliance Securities told PTI, “Domestic equities do not look to be inspiring at the moment. A sharp spike in coronavirus cases in the country and resultant restrictions are likely to dent investors’ sentiments in the near term.”
Modi added, “Imposition of weekend lockdown in Maharashtra, which contributes over 13% of the country’s GDP and nearly 20 per cent of India’s industrial output, does not augur well.”
