Sensex and Nifty Fall; Expect Big Rally Tomorrow

Sensex dropped by 190.10 points to 31371.12 while Nifty tanked 42.65 points to close at 9196.55. All sectoral indices remained negative in today’s session with some recovery in banking and pharma sectors. Sensex and Nifty fell for 2nd consecutive day amid increasing Coronavirus cases which overpowered the hopes of restarting the economy.

PM’s 20 Lakh Crore package announcement at 8 PM today may help the equity market to rally. Positive opening of Sensex and Nifty expected tomorrow. Also, Nifty might break the 9500 mark and Sensex to surge past 32000 points within this week.

Top Gainers- Sensex and Nifty

Vedanta Ltd surged by 12.44% followed by NTPC, ITC and Bharti Airtel making gains of around 5.94%, 4.45% and 4.42% respectively. Other gainers included Bajaj Auto, Powergrid, IndusInd Bank and Infra Tel closing with more than 3% increase in value.

Losers- Sensex and Nifty

Reliance industries lost over 5.73% today, followed by GAIL, Asian Paints and Kotak Bank losing 3.69%, 2.97% and 2.57% respectively. Other losers in the market included Dr Reddy’s, Hindustan Unilever, HDFC Bank and Coal India tanking around 1.5%.


Foreign Institutional Investors bought around INR 6231.71 crores of stock in Indian Equity market and sold shares valued INR 7893.74 crores. Today’s session marked a massive drop as Foreign investors sold INR 1662.03 crores of investment from the market.

Domestic Institutional Investors bought shares of around INR 5326.5 crores of value. Stocks valued INR 5690.5 crores sold during the session. A total of INR 364 crores were taken out by domestic investors from the market.

Investors fear the possibility of lockdown extension that may adversely affect the Indian Equity market.

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