Market Tanks In First Trading Session Of FY21

In the morning trade, the benchmark Sensex tanked 330 points or 1.12% at 29,138.69 whereas the Nifty declined 111 points or 1.29% at 8,486.80.

Image: PTI

New Delhi: In the first trading session of the financial year FY21, the 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade. In the morning trade, the benchmark Sensex tanked 330 points or 1.12% at 29,138.69 whereas the Nifty declined 111 points or 1.29% at 8,486.80. On Tuesday, the Sensex closed at 29,468.49 points, while the 50-share index Nifty closed at 8,597.75, up 316.65 points or 3.82%. It ended nearly 4% higher on Tuesday, exuding the confidence in global markets after Chinese manufacturing activity rose. Meanwhile, US stocks finished lower in choppy trading amid the fast spread of COVID-19 in the United States. On Tuesday, the Dow Jones Industrial Average fell 410.32 points, or 1.84 per cent, to 21,917.16. With shares falling on Wall Street on Tuesday, the Dow registered its biggest quarterly fall since 1987. The S&P 500 slid 42.06 points, or 1.60 per cent, to 2,584.59. The Nasdaq Composite Index decreased 74.05 points, or 0.95 per cent, to 7,700.10, Xinhua news agency reported.