Sensex, Nifty end the day in red after a volatile session

Indian stock market benchmarks BSE Sensex and Nifty 50 closed slightly lower today in a volatile session as downbeat growth outlook from the IMF and a surge in COVID-19 cases weighed on the sentiment.

Sensex ended the day at 34,799 or 277 points down from the day’s high and 309 points up from the day’s low. The 50-stock NSE Nifty settled at 10,277 points.

ITC, Hero MotoCorp, Bajaj Finance, Kotak Bank and GAIL were the Nifty50 top gainers while Asian Paints, Hindalco, Indian Oil Corporation, Eicher Motors and HCL Technologies were the index top losers.

The IMF on Wednesday projected a sharp contraction of 4.5 per cent for the Indian economy in 2020, a “historic low,” citing the unprecedented coronavirus pandemic that has nearly stalled all economic activities, but said the country is expected to bounce back in 2021 with a robust six per cent growth rate.

(With inputs from agencies)