Domestic Share Market ended near day's low; Sensex falls 580 points to close at 43,600 & Nifty 50 declined 1.29 pct
Key domestic indices on Thursday, November 19, 2020, plunged around 1.30 per cent in sync with losses in global stocks. The fall was dragged by banks and financial stocks.
The BSE 30-share index, Sensex lost 580.09 points or 1.31 per cent to settle at 43,599.96. The NSE Nifty-50 index also declined 166.55 points or 1.29 per cent to settle at 12,771.70. The Nifty Bank lost 846.80 points or 2.85 per cent and settled at 28,903.05.
The broader market at BSE outperformed the Sensex as the BSE Mid-Cap index fell 0.65 per cent while the BSE Small-Cap index added marginally by 0.03 per cent.
The market breadth was negative. On the BSE, 1322 shares rose and 1439 shares fell. Similarly, 14 stocks advanced on Nifty 50 while 36 stocks fell. Major gainers on Nifty 50 block were Power Grid (up 2.59 per cent), ITC (up 2.17 per cent), NTPC (1.70 per cent), Coal India (up 1.16 per cent) and Tata Steel (up 1.14 per cent). The biggest losers on the block were SBI (down 4.96 per cent), ICICI Bank (down 4.19 per cent), Axis Bank (down 4.13 per cent), Tata Motors (down 3.78 per cent) and JSW Steel (down 3.63 per cent).
Total COVID-19 confirmed cases worldwide were at 56,202,247 with 1,349,339 deaths. India reported 443,303 active cases of COVID-19 infection and 131,578 deaths while 8,383,602 patients have been discharged.
Inflation in the Euro Area
European Central Bank (ECB) President Christine Lagarde on Thursday cautioned that euro-area inflation is likely to remain negative into early 2021 as fresh economic shutdowns sweep through the continent. Ms Lagarde also warned policymakers in Brussels of the potential damage that would be caused to the bloc's economy should they fail to implement its historic stimulus plan, after Hungary and Poland vetoed the agreement on Monday.
China's plans to expand imports
China will continue to cut its tariffs and expand imports of high-quality goods and services, Chinese President Xi Jinping said on Thursday, while vowing to push reforms and promote an innovation-driven growth model. China will pursue higher-quality growth through its "dual circulation" development model, driven by technological innovation, he said. Mr Xi also called for stronger policy coordination among international communities.