Why Sensex Is On Fire
A day that began with a historic feat of touching the 50,000-mark milestone on the S&P BSE Sensex, turned into a nightmare for investors as a massive bloodbath awashed investor wealth. Sentiment took a hit after fire broke out at the Serum Institute of India, the manufacturer of Covidshield Vaccine. The benchmark Sensex tumbled 785 points from record high to hit an intra-day low of 49,399. However, the sell-off was quickly bought into and the BSE barometer of 30 shares ended at 49,625 levels, down 167 points or 0.34 per cent. ONGC, Bharti Airtel, State Bank of India, and IndusInd Bank were the top laggards on the index, down between 2 per cent and 4 per cent. Weightage-wise, profit-booking in HDFC twins, Airtel, TCS, ITC, and SBI dragged the index lower.