Sensex slips 210 pts amid weak global cues

Monday,   29-Jun-2020   03:56 PM (IST)

The Indian equity market ended over 0.5 per cent lower on Monday, dragged down by financial and metal stocks. The Standard and Poor’s warning that the Indian economy is in deep trouble also weighed on investor sentiment. The rater has projected the Indian economy's growth to contract by 5 per cent this fiscal. Further, the decline in global stocks due to a surge in the Covid-19 cases also dented investor sentiment. The headline index S&P BSE Sensex slipped 210 points or 0.6 per cent to settle at 34,961.52. During the session, the index hit a high and low of 35,032.36 and 34,662.06 levels, respectively. NSE's Nifty ended the day at 10,312, down 71 points or 0.68 per cent. Among individual stocks, Axis Bank, IndusInd Bank, and Bajaj Finance all slid over 4 per cent each.  Notably, S&P had downgraded the ratings of both Axis Bank and Bajaj Finance during the weekend. On the other hand, shares of ITC rose as much as 4 per cent after the announcement of its March quarter results. Meanwhile, Vodafone Idea ended 7 per cent higher at Rs 11.12 on the BSE ahead of its March quarter results due tomorrow.