The Indian fairness benchmarks got here off intraday low ranges and erased features within the final hour of commerce on the again of shopping for curiosity in steel, banking, auto and pharma shares. The benchmarks staged a spot down opening whereby the Sensex fell as a lot as 754 factors and Nifty 50 index touched an intraday low of 14,416. Growing calls, together with from an business physique, to impose curbs on the nationwide stage to rein within the COVID-19 unfold dampened investor sentiment, analysts stated.
As of two:42 pm, the Sensex was down 5 factors at 48,777 and Nifty 50 index superior 19 factors to 14,651.
A number one business physique on Sunday urged authorities to take the “strongest national steps” and to curtail financial exercise to avoid wasting lives, because the coronavirus continued to brush the nation and overwhelm its healthcare programs.
Six of 11 sector gauges compiled by the National Stock Exchange have been buying and selling decrease led by the Nifty Private Bank index’s over 1 per cent decline. Nifty Bank, Media, PSU Bank and Realty indexes additionally fell between 0.5-1 per cent.
On the opposite hand, Nifty Metal, Auto FMCG and Pharma indices have been up between 0.6-2 per cent.
Adani Ports was high Nifty gainer, the inventory rose four per cent to Rs 759. Tata Steel, SBI Life, Hindustan Unilever, Maruti Suzuki, Bharti Airtel, UPL and Asian Paints additionally rose between 1.7-Three per cent.
On the flipside, Titan, IndusInd Bank, Axis Bank, Reliance Industries, Kotak Mahindra Bank and BPCL have been among the many losers.
(With inputs from Reuters)