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S&P BSE Sensex and NSE Nifty 50 Break 5-Day Winning Streak

The S&P BSE Sensex and NSE Nifty 50 indexes snapped their five-day winning streak dragged by weakness in auto, IT, infrastructure and energy shares. For the most part of the day, the benchmarks traded firmly higher but erased gains in the last hour of trade after bluechip shares like Reliance Industries, Infosys, Tata Consultancy Services, ICICI Bank and Bajaj Finance came under selling pressure. Volatility in the markets crept in as investors resorted profit booking ahead of weekly futures and options expiry of indexes due tomorrow, analysts said.

The Sensex closed 345 points lower at 36,329 and Nifty 50 index dropped 94 points to settle at 10,705.

Rising coronavirus cases in the country also dampened the investor sentiment.

India reported 22,752 coronavirus cases in the last 24 hours, taking the total so far to 7,42,417, government data showed. The number of death has risen to 20,642 with 482 deaths in the last 24 hours. A total of 4,56,831 have recovered and the recovery rate is 61.53 per cent.

Seven of 11 sector gauges compiled by the National Stock Exchange ended lower led by Nifty Auto and IT indexes 2 per cent fall. Banking, financial services, media, energy and realty shares also witnessed selling pressure.

On the other hand, metal index was top gainer.

Mid- and small-cap shares also witnessed selling pressure. Nifty Midcap 100 index declined 0.6 per cent and Nifty Smallcap 100 index declined 0.4 per cent.

Bajaj Finance was top Nifty loser, the stock dropped 4.6 per cent to close at 3,197. Zee Enterprises, Asian Paints, Tata Motors, HCL Technologies, Maruti Suzuki, Bajaj Finserv, Eicher Motors, Infosys, TCS, Titan and ICICI Bank were also among the losers.

On the flipside, IndusInd Bank, Vedanta, JSW Steel, Hindalco and Dr Reddy’s Labs were among the notable gainers.

The overall market breadth was negative as 1,514 shares closed lower while 1,244 ended higher on the BSE.

Source: https://www.ndtv.com/

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