Mumbai: Equity benchmark indices witnessed a sharp downswing during the afternoon session on Monday with across-the-board sell-off amid weak global cues. Sensex closed on September 21, 2020 at 811.68 points low at 38,034.14. Nifty ended 254.40 points low at 11,250.55.
In the previous season, Sensex closed on September 18, 2020 at 134.03 points low at 38,845.82. Nifty ended 11.15 points low at 11,504.95.
In Asian markets, the sell-off was triggered after the International Consortium of Investigative Journalism (ICIJ) reported on top-secret suspicious activity reports worth more than 2 trillion dollars. Between 2010 and 2017, several banks helped facilitate transactions red-flagged by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) for suspected money laundering, terrorism, drug dealing and financial fraud. That led to a meltdown on Indian bourses as well with banking stocks taking a hit.
IndusInd Bank, Tata Motors, Hindalco, Tata Steel and JSW Steel were the top losers on the Nifty50 index while Kotak Bank, Infosys, and TCS were in the green.
