Despite trading positively for most of the session, domestic equities dropped a large chunk of profits at the end of the day as concerns over the growing case of COVID-19 relied on investor sentiment.
On Thursday, April, the market indicators closed during a very volatile session. It was originally represented by shares of banks. The BSE Sensex broke the previous day’s 50,000 mark, but fell later. It was the third season when it turned positive in the market.
BSE Sensex 84.45 points or 0.17 percent to 49,746.21. Top customers are Ultratech Cement, Titan, Tech Mahindra, Nestle India and TCS. However, behind this day are Industrial Bank, ONGC, Bajaj Auto, Sun Pharma and HDFC Bank.
Top BSE Sensex Beneficiaries:
To fix the day, Ultratech Cement rose 4.24 per cent to Rs 042.99.
Titan rose 3.99 percent to 1,57375.755.
Tech Mahindra rose 2.52 per cent to Rs 1,028.30.
Nestle India jumped 1.66 per cent to Rs 17,709.00.
TCS rose 1.40 per cent to Rs 3,316.50.
Top BSE Sensex Falls:
Shares of IndusInd Bank fell 1.07 per cent to close at Rs 935.35 per share.
Shares of ONGC fell 1.05 per cent to Rs 103.55.
Sun Pharma fell 1.05 per cent to Rs 614.30.
Shares of Bajaj Auto fell 1.01 percent to close at 3,369.25.
HDFC Bank Talk fell 0.99 percent to close at 1,433.55.
National Stock Exchange (NSE)
NSE Nifty It rose 54.75 points, or 0.37 percent, to 14,873.80. Speaking of the sector, Nifty Auto and Nifty FMCG closed below one per cent and Nifty IT closed above 1.117 per cent. However, Nifty Pharma declined 0.07 percent to a negative close.
At the top of the Nifty:
JSW Steel rose 9.59 per cent to Rs 616.20.
Tata Steel jumped 5.39 per cent to Rs 922.00.
Shree Cement rose 4.79 percent to 31,680.00.
Ultratech Cement rose 4.14 percent to 7,040.00.
Hindalco rose 4.07 per cent to Rs 3,366.55.
Top losers in NSE Nifty:
Sun Pharma closed 1.14 per cent lower at Rs 614.00.
IndusInd Bank closed 1.12 per cent lower at Tk 935.00.
SBI Life rose 1.01 per cent to Rs 909.20.
Shares of ONGC fell 1.00 percent to 103.60.
Bajaj Finance fell 0.98 per cent to Rs 5,027.30.
Despite trading positively in most sessions, domestic equities have left a large portion of profits in the form of growth concerns at the end of the day. COVID-19 Binod Modi, chief strategist at Reliance Securities, said it depends on the mindset of investors.
Financiers gain profit-booking experience and pull the market. In addition to money, most major regional indices trade green with the exception of an outperformer with a metallic index.
“Fixed 4QFY21 earnings expectations and weak IN stocks continue to attract investors,” he said.
He said the sharp devaluation of the rupee over the past few days due to recent easing of bond yields and softening of crude prices could be a new concern for investors, which could also affect the flow of FPIs.
Elsewhere in Asia, Bowers finished a positive note in Shanghai, Hong Kong and Seoul, Tokyo was in the red.
European stock exchanges were trading mainly in mid-session deals with gains. Meanwhile, global oil benchmark Brent crude fell 0.44 percent to 62 62,628.82.