Sensex dropped by 261.84 points to 31453.51, while Nifty tanked 87.90 points to settle at 9205.60.
Today’s equity market marked a loss as investors were under pressure due to increasing Coronavirus cases in India. Further, global market tensions led the market to a downfall. Sensex and Nifty opened on a positive note but due to massive dump-off in bears took over pulling the indices in red.
Top Gainers- Sensex and Nifty
Bharti Infratel was the top gainer in today’s market, gaining 3.62%. Other gainers included M&M, Power Grid, ONGC increasing by 3.21%, 2.89% and 2.68% respectively. Reliance, ZEE Entertainment Ltd, HCL Tech and NTPC ended just above 1% in today’s session.
Energy and Infra sectors were the gainers in today’s session. Ease of lockdown in certain districts with due permission from the Government gave hope to these sectors.
Losers- Sensex and Nifty
State Bank of India was the top laggard in today’s session falling more than 4%. Other losers include Bajaj Finance, Britannia and Asian Paints falling 3.78%, 3.62% and 3.52% respectively. Kotak Bank, Bajaj Finserv, Coal India and Dr Reddy were other stocks that dropped just below 3%.
Today’s market session saw a big sell-off in Nifty banks which pulled the Bank stocks and other sectors in red.
Foreign Institutional Investors bought around shares valued INR 3699.65 crores and sold stocks of INR 4759.04 crores in today’s session. The net value of around 1059.39 crores was sold off.
Domestic Institutional investors saw a decline in investment and an increase in dispose-off of stocks of value INR 995.3 crores. Stocks of value INR 3351.43 crores were bought today and stocks around INR 4346.73 crores sold-off in today’s market session.
The primary reasons which could affect Indian market in coming days are PMI index in the manufacturing and service sectors of the economy and Government’s initiative in combating lockdown restrictions in this time of crisis.