Reclaiming crucial resistance levels, BSE Sensex index jumped 290 points to close at 34247. NSE Nifty50 increased by 69 points to 10116. Auto, Metals and Oil & Gas sectors surged as high buying witnessed in Banks, Finance, Energy and Healthcare sectors.
The domestic equity market traded in a tight position marking volatility with some gains in the last couple of hours. A mixed emotion is prevailing in the global economy about the meeting of Federal Reserve policy amid the threat against rising Coronavirus cases. Analysts expect a well-improvised approach to bring the economy back on track to battle against COVID-19 with less weightage to slashing interest rates in Fed’s meeting. Bulls were seen pushing the market in the green today tracking selling pressure at higher levels. In the previous session, BSE Sensex and NSE Nifty50 fell more than 1% losing the crucial levels.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, Tokyo Plast surged the most by 20%. Other gainers include Dishman Carboge, Unichem Labs, Ramco System and Nectar Life gaining 19.99%, 19.98%, 19.97% and 19.94% respectively. In the NSE market, Panacea Biotec rose the highest by 20%. Further, Salzer Electro, Vimta Labs, Xeplomoc Design and RBL Bank increased by 19.99%, 19.99%, 19.97% and 16.83% respectively.
On BSE Sensex index, IndusInd Bank topped the list by 7.93%. Other gainers in the list include Kotak Mahindra, Reliance, Axis Bank and TCS surging 2.34%, 2.27%, 1.88% and 1.69% respectively. On NSE Nifty50 market, IndusInd Bank was at the highest by 7.70%. Further, Hindalco, Shree Cements, Reliance and HDFC gained 3.05%, 2.40%, 2.28% and 2.10% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, VR Films dropped the most by 15.97%. Further, Ashika Credit, Akme Star, AYM Syntex and Dolfin Rubbers declined by 14.19%, 10.37%, 9.87% and 8.98% respectively. In the NSE market, Bhagyanagar Industries lost the most by 9.89%. Other losers include Compuage Info, Den Networks, Zen Tech and PVR losing 9%, 8.55%, 8.12% and 7.63% respectively.
On BSE Sensex index, Hero MotoCorp dipped the highest by 3.92%. Other decreasing stocks include Bajaj Auto, ONGC, Titan Company and L&T declining by 2.58%, 2%, 1.90% and 0.66% respectively. On NSE Nifty50 index, GAIL was the top loser by 2.97%. Followed by Coal India, Tata Steel, Bajaj Finserv and M&M losing 2.49%, 2.47%, 1.65% and 1.40% respectively.
FII and DII
Foreign Institutional Investors took out a total of INR 919.26 crores from the domestic equity market tracking volatility and drop in the last session. Foreign investors bought stocks of value INR 4432.22 crores and sold-off stocks of value INR 5351.48 crores displaying negative numbers.
Domestic Institutional Investors bought a total of INR 3179.77 crores and sold stocks of value INR 2679.07 crores. Domestic investors invested a total amount of INR 500.7 crores in the financial market, tracking positive run and claiming back of crucial levels.
To conclude, foreign Investors are waiting eagerly for Federal Reserve’s announcement over monetary policies to provide for aid against Coronavirus pandemic and regaining economy’s strength.