Benchmark stock markets witnessed a sharp turnaround during Wednesday’s trading session, with the S&P BSE Sensex and NSE Nifty 50 witnessing a bloodbath.
The S&P BSE Sensex plummeted 930.88 points or 1.30 per cent to 70,506.31, while the NSE Nifty 50 settled 302.95 points or 1.41 per cent lower at 21,150.15. This marked the worst session for the Nifty 50 in nine months
The stock market began the day with both benchmark indices reaching new all-time highs, driven by robust gains in IT and consumer goods stocks. However, a significant downturn across all heavyweight sectoral indices turned the market negative by the close of the trading session.
Covid scare, profit booking
Multiple factors could have been responsible for today’s bloodbath on Dalal Street, including the resurgence in Covid-19 cases in India, the US, UK and other places in Asia.