Indian equity indices plummet during afternoon trade, after hitting fresh high in morning

After hitting a fresh high, the Indian equity benchmark indices nosedived and were trading in the red on Wednesday afternoon.

After hitting a fresh high, the Indian equity benchmark indices nosedived and were trading in the red on Wednesday afternoon. The market indices reversed trend after three days of consecutive gains on the back of the progress made on the COVID-19 vaccine and the prospects for a speedy global economic revival.

The trend reversed due to heavy selling in IT, pharmaceuticals and fast moving consumer goods (FMCG) sectors. The 30-scrip BSE Sensex opened at 44,749.73 and was trading at 44,293.99 (at 12:36 pm), down by 229.03 points or 0.51 per cent.

BSE Sensex traded at a low of 44,191.04 points and high of 44,825.37 points so far in the trading session. Similarly, 50-scrip NSE Nifty was trading at 12,994.20 points (at 12:36 pm), down by 60.95 points or 0.47 per cent.

During the trading session, the sectors trading high were -- oil and gas up by 0.86 per cent, energy increased by 0.63 per cent and utilities increased by 0.40 per cent. The sectors, which were trading lower were -- healthcare down by 1.22 per cent, information technology plummeted by 1.09 per cent and capital goods lower by 1.07 per cent. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)