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Sensex Corrects Over 600 Points; IndusInd Bank & HDFC Top Losers
Wed, 28 Oct 02:30 pm

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

After opening the day marginally higher, benchmark indices erased gains and slipped into red, weighed down by the weakness in banking stocks.

Further, weak global cues amid surging coronavirus cases and nervousness ahead of the US Presidential elections next week dampened sentiment.

The United States, Russia, France and other countries have registered record numbers of infections in recent days, and European governments have introduced fresh movement restrictions to try to curb in the fast-spreading outbreaks.

The BSE Sensex is trading down by 608 points, down 1.5%. Meanwhile, the NSE Nifty is trading down by 167 points.

Shares of IndusInd Bank fell over 3.5%, while HDFC, Kotak Mahindra Bank, and ICICI Bank fell over 2%.

Barring telecom stocks, all sectoral indices are trading in red with stocks in the banking sector and finance sector witnessing most of the selling pressure.

More details to follow in the upcoming commentary.

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