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Sensex Closes 634 Points Lower Tracking Global Markets: 10 Things To Know
04 Sep 2020, 05:12 PM IST 
Reliance Industries, HDFC and ICICI Bank were the biggest drags on Sensex
- The Sensex ended 633.76 points - or 1.63 per cent - lower at 38,357.18 and the Nifty settled at 11,333.85, down 193.60 points - or 1.68 per cent - from its previous close. (Track Sensex, Nifty LIVE)
- Tata Steel, Axis Bank, Adani Ports, JSW Steel, NTPC, Tata Motors and SBI, ending between 2.79 per cent and 4.46 per cent lower, were the worst hit among the 49 laggards in the Nifty basket of 50 shares. Maruti Suzuki bucked the trend, closing with a gain of 1.64 per cent.
- Reliance Industries, HDFC and ICICI Bank were the biggest drags on Sensex, together accounting for a fall of 230 points in the 30-scrip index.
- Overall market breadth was sharply lower, with an advance-decline ratio of almost 1:2, as 1,003 stocks on the BSE finished the session higher against 1,722 that succumbed to losses.
- "When US and global markets shiver, domestic markets are also bound to get affected. The index (Nifty) has still not recovered even half from the lowest level recorded in Monday's selloff," AK Prabhakar, head of research at IDBI Bank, told NDTV. "Markets will give a fantastic time, but not now... We need to wait a bit," he said.
- The Nifty Bank - comprising stocks of 12 major lenders in the country - ended 2.21 per cent lower for the day, having declined as much as 2.78 per cent during the session, a day after the Supreme Court directed banks not to declare any loans that were standard as of end-August as non-performing until further orders.
- Official data released on Monday showed the country's economy shrank 23.9 per cent in the quarter ended June 30, its worst contraction on record. Earlier that day, the Sensex and Nifty each dropped more than 2 per cent after a border flare-up between India and China.
- Global markets edged lower on Friday as investors awaited US jobs data, to gauge any signs of improvement in the world's largest economy. MSCI's broadest index of Asia Pacific shares outside Japan fell 1 per cent.
- However, the E-Mini S&P 500 futures traded 0.41 per cent higher, indicating a positive start for Wall Street on Friday, a day after the US benchmark S&P 500 index dropped 3.5 per cent in Wall Street's steepest single-day fall since June.
- For the week, the Sensex shed 1,110.13 points (2.81 per cent) the Nifty declined 313.75 points (2.69 per cent).
(With inputs from agencies)
