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Sensex Plunges Over 1,100 Points; Bajaj Finance, Reliance and Tata Motors Bleed
Mon, 22 Nov 12:30 pm

Sensex Plunges Over 1,100 Points; Bajaj Finance, Reliance and Tata Motors Bleed

Share markets in India have extended early losses and are presently trading deep in the red.

Benchmark indices continued their downward as traders stayed away from taking bullish bets amid rising inflation and risk of an immediate correction.

Meanwhile, the weakness in global markets amid fresh Covid cases in Europe and lockdowns in countries like Austria also dampened sentiment.

Austria said it would reintroduce lockdowns and make vaccination mandatory from February.

The BSE Sensex fell over 1,100 points to 58,400 levels. Meanwhile, the NSE Nifty fell over 300 points to 17,450-mark.

Presently, the BSE Sensex is trading down by 1,051 points, down 1.7%. Meanwhile, the NSE Nifty is trading down by 290 points.

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The sell-off is seen across all sectors, particularly in the energy, realty and automobile stocks.

Shares of Bajaj Finance and Reliance Industries fell over 5%, while Bajaj Finserv and SBI fell over 4%.

Meanwhile, Paytm shares fell another 12% following a 27% dip on debut last week, after the company's monthly business update.

Broader markets are also trading in red with the BSE Mid cap index and the BSE Small cap index both trading down by 2.5%.

In his latest video for Fast Profits Daily, Brijesh Bhatia talks about why he is bullish on metal stocks.

At the start of the year, Brijesh said metals would be the best sector of 2021. But can these stocks continue their momentum in 2022? Brijesh believes so.

You can watch the video here: Bull Market in Metal Stocks

More details to follow in the upcoming commentary.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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