Mumbai: The Supreme Court’s tough stance on rising cases of Corona virus across the country and AGR outstanding on telecom companies had a major impact on the stock market on Wednesday and the Sensex closed below 29 thousand for the first time in three years. The BSE Sensex ended the day at 28,869.51, a drop of 1709.58 points (5.59%). The National Stock Exchange (NSE) Nifty slipped 425.55 points (4.75%) to close at 8,541.50.
The Sensex touched a high of 31,101.77 and a low of 28,613.05 in day trading. At the same time, the Nifty touched a high of 9,127.55 and a low of 8,407.05. Shares of 28 companies on the BSE closed on the green mark, while shares of just two companies closed on the red mark. At the same time, stocks of 44 companies were seen buying on NSE and selling in shares of six companies.
The Supreme Court’s decision had the biggest impact on the stocks of banking companies, as these banks have huge debt on telecom companies. At the same time, shares of some IT companies saw a slight rise.
