Sensex down 243 points on weak global cues

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Domestic equity benchmark indices Sensex and the Nifty slipped lower on Mondayy tracking weak global cues.

Asian stocks fell after uncertainty surrounding global economic recovery. Shares started the week out on a sour note in Asia as worsening coronavirus outbreaks overshadowed news that US lawmakers finally have a deal on more support for American businesses.

Markets fell in Japan, Hong Kong and South Korea on Monday but rose in Shanghai.

Passage of the nearly $1 trillion Covid-19 economic relief package was expected later Monday. However, a resurgence of virus outbreaks around the globe has dented optimism that vaccines can bring a swift end to the pandemic.

At 9.20 am, the 30-share BSE index fell 243 points or 0.56 per cent to 46,716.89; while the NSE Nifty declined 78.35 points or 0.16 per cent to 13,683.05.

Tata Motors was the top laggard in the Sensex pack, shedding over 2.50 per cent, followed by GAIL, Axis Bank, ICICI Bank and HIndalco.

On the other hand, L&T, Reliance, Sun Pharma, Cipla, and Adani Port were among the gainers.



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