Coronavirus COVID-19 Lockdown Sensex, Nifty Off Day’s Highs; Auto, IT Shares Acquire, Banks Fall

Sensex, Nifty Off Day's Highs; Auto, IT Stocks Gain, Banks Fall

The S&P BSE Sensex fell as a lot as 576 factors from day’s highest stage and the Nifty 50 index got here under necessary psychological stage of 9,300 in afternoon buying and selling as markets got here off intraday highs. Beneficial properties in auto, info know-how and power shares had been offset with losses in banking and monetary providers shares.

As of two:27 pm, the Sensex was up 132 factors or 0.Four per cent at 31,775 and the Nifty was at 9,286, up 35 factors or 0.Four per cent.

Six of 11 sector gauges compiled by the Nationwide Inventory Change had been buying and selling greater led by the Nifty Auto index’s over 5 per cent achieve. IT, media and steel indexes additionally rose between 1.75-2.Four per cent.

Alternatively, Nifty Personal Financial institution index was prime loser, down 1.three per cent. Nifty Financial institution and Monetary Providers sector gauges additionally fell over a per cent every.

Mid- and small-cap shares had been buying and selling on a combined observe because the Nifty Midcap 100 index rose 0.9 per cent whereas the Nifty Smallcap 100 index was buying and selling flat.

Tata Motors was prime gainer within the Nifty 50 basket of shares, the inventory rose eight per cent to Rs 88. Bajaj Auto, Hero MotoCorp, Maruti Suzuki, Grasim Industries, Eicher Motors, JSW Metal and Zee Leisure had been additionally among the many gainers.

On the flipside, ICICI Financial institution was prime loser, the inventory fell 4.5 per cent to Rs 322 after it reported a 26 per cent bounce in internet revenue at Rs 1,221.36 crore for the quarter ended March 2020.

Dr. Reddy’s Labs, Bharat Petroleum, Kotak Mahindra Financial institution, IndusInd Financial institution, HDFC, Tech Mahindra, Hindustan Unilever, Bajaj Finance and Cipla had been additionally among the many losers.

The general market breadth was impartial as 1,112 shares had been buying and selling greater whereas 1,163 had been buying and selling greater on the BSE.

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