Equity market trades volatile session forcing the market to close in red with bears taking over. BSE Sensex slips down 26 points to end at 34842 distancing further from 35000 mark. While NSE Nifty 50 fell 16 points to close at 10288 failing to hold 10300 levels as of yesterday. Indian market following the global trend with a flat ending of Asian markets. US market drops to touch the lowest in last week with rising COVID-19 cases. IMF predicts GDP falling 5%.
F&O expiry for this month made the investors confuse. Session experienced volatile ending the day in negative. Zero support from the global economy and dire warning by IMF dented investors’ sentiments. Analysts warn the investors to stay away from new long positions. Also, track the market curve to look for an opportunity to buy and earn benefit in the short-term.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, Global space Technologies surged the highest by 19.97%. Other top gainers include ISL, Umang Diaries and Pioneer rising by 19.97%, 19.92% and 18.75% respectively. In the NSE market, KSS surged the most by 20%. Following that, Elgi Rubber, Damodar Industries and Bharat Dynamics rose by 19.93%, 19.83% and 13.89% respectively.
On BSE Sensex index, ITC topped the list by 5.45%. Subsequently, Kotak Mahindra, Bajaj Finance, HUL and ICICI Bank gained 2.75%, 2.35%, 2.04% and 0.79% respectively. On NSE Nifty50 index, Hero Moto Corp. rose the highest by 2.64%. Other gainers in the list include GAIL, Cipla, Power Grid Corp and SBI increasing by 1.68%, 0.59%, 0.48% and 0.35% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, Andhra Paper lost the most by 15.42%. Meanwhile, RMC Switchgears, COSYN and Pearl Polymers also dropped by 14.63%, 9.76% and 9.26% respectively. In the NSE market, Gayatri Highway lost the highest by 12.50%. Other losers include Oil India, Gallant Metal and Kalyani Steels 9.60%, 9.53% and 6.52% respectively.
On BSE Sensex index, Asian Paints dropped the most by 3.30%. Other losers include Infosys, HCL Tech, ONGC and M&M losing 2.04%, 1.71%, 1.62% and 1.59% respectively. On NSE Nifty50 index, Hindalco slumps the most by 3.17%. Following that, IOC, Adani Ports, BPCL and Eicher Motors slipped down by 2.35%, 2.23%, 2.19% and 1.88% respectively.
FII and DII
Foreign Institutional Investors took out a considerable value of INR 1050.61 crores from the domestic equity market, making a dent and worrying the market sentiments. They bought stocks of value INR 5716.86 crores and sold-off INR 6767.47 crores worth of shares on Thursday.
Domestic Institutional Investors purchased a total of INR 7786.25 crores and disposed of INR 8041.84 crores worth of stocks during the session tracking low sentiments and fears prevailing. They took out investment totalling to INR 255.59 crores from the equity market with rising cases of COVID-19.