Sensex plunges 599.64 points to end at 39,922.46; Nifty tumbles 159.80 points to 11,729.60

Sensex plunged 599.64 points on Tuesday to end at 39,922.46, while Nifty tumbled 159.80 points and closed to 11,729.60.

The shares traded in a tight range on Wednesday as upbeat results from Bharti Airtel and Tata Motors countered weak global sentiment due to surging coronavirus cases and uncertainty over the US presidential election.

Airtel was the biggest boost to the Nifty, jumping as much as 12.6% after the telecom operator reported a smaller quarterly loss on Tuesday.

Tata Motors, India’s biggest carmaker by revenue, gained as much as 5.6% after it reported a smaller-than-expected loss.

IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by HDFC, ICICI Bank, Tech Mahindra, Bajaj Finance, UltraTech Cement and Tata Steel.

M&M, Maruti and L&T also ended with gains.

Meanwhile, Rupee depreciated 16 paise and settled at 73.87 against the US dolla as heavy selling in the domestic equity market and strengthening American currency weighed on investor sentiment.

At the interbank forex market, the rupee opened on a positive note at 73.70 against the greenback, but soon pared the gains and closed for the day at 73.87, registering a decline of 16 paise over its previous close of 73.71.

(With agency inputs)