Sensex throws more than 200 points; Ingenious below 9,200

MUMBAI: Sensex benchmark equity index fell more than 200 points in early trading on Wednesday, tracking losses on ITC, Axis Bank and Kotak Bank heavyweights amid mounting concerns about the economic outlook of the country as COVID-19 cases increase.

The 30-share index was trading at 256.76 points or 0.82 percent at 31,196.75, and fell 77.60 points, or 0.84 percent, at 9,128.

ITC was the top loser in the sensex package, with almost 6 percent, followed by Axis Bank, Titan, Bajaj Auto, Maruti, M&M, L&T and IndusInd Bank.

On the other hand, Bharti Airtel, ONGC, NTPC, Reliance Industries and Tata Steel were among the winners.

In the previous session, the BSE barometer was set 261.84 points or 0.83 percent lower at 31,453.51, and the NSE Skilled It fell 87.90 points or 0.95 percent to close at 9,205.60.

Foreign portfolio investors were net sellers in the capital market on Tuesday as they downloaded capital shares worth Rs 1,059.39 million, according to provisional exchange data.

According to traders, economic uncertainty due to the COVID-19 pandemic, muted corporate earnings, and weak framework data keep investors cautious.

In India, the number of deaths from COVID-19 increased to 1,694 and the number of cases increased to 49,391, according to the health ministry.

Globally, the number of cases linked to the disease has crossed 36.63 lakh and the number of deaths has exceeded 2.57 lakh.

Meanwhile, the exchanges in Shanghai, Hong Kong and Seoul were trading on a positive note, while those in Tokyo were closed for holidays.

The stock exchanges on Wall Street ended with firm gains in the overnight session.

The International Benchmark Crude Oil Index Brent crude futures were trading 0.36 percent lower at $ 30.86 a barrel.