EQUITIES

Sensex, Nifty off day’s highs, slip into red; know what’s keeping investors edgy today

Sensex, Nifty

Headline indices BSE Sensex and Nifty 50 index were trading lower in Thursday’s session, in-line with global markets. The 30-share Sensex climbed off 350 points from day’s high of 31,705.25. The broader Nifty 50 index hit a day’s low of 9,176 in today’s session. The fall in markets was on the back of rapid increase in coronavirus patients and weak macro data. In the 30-share pack Sensex, IndusInd Bank replaced HCL Tech to become the top gainer. HCL Tech reported a profit of Rs 3,154 crore, 22.8 per cent on-year rise in the March quarter. The other gainers on the pack were M&M, Axis Bank, Sun Pharma, Tech Mahindra and TCS, all up in the range of 1-1.5%.

Yes Bank hits 20% upper circuit: Yes Bank share price gained 20 per cent to hit upper circuit at Rs 31.60 apiece on BSE in otherwise weak trade on Thursday. Yes bank reported a net profit of Rs 2,629 crore for the quarter ended on March 31. The private sector lender had a loss of Rs 18,560 crore loss in the December quarter of FY20.

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Top losers on BSE Sensex: Kotak Mahindra Bank was the Sensex loser, down 4.31 per cent to Rs 1,192, followed by ONGC, Titan, Power Grid and UltraTech Cement. HDFC twins were among top index contributors towards today’s fall.

Nifty FMCG top sectoral loser: Most of the sectoral indices were trading in deep sea of red. Nifty FMCG index dropped 1.33 per cent weighed by Godrej Consumer Properties, Britannia, Dabur India and Marico. Similarly, Nifty Bank index was down nearly 1 per cent due to weakness in Kotak Mahindra Bank, HDFC Bank, ICICI Bank and State Bank of India (SBI).

Broader markets outperform: Broader market indices were performing better than frontline indices. BSE MidCap was up 0.9 per cent at 11,490.87, while SmallCap was ruling at 10,705, up 0.04 per cent. In comparison, the S&P BSE Sensex was down 171 points or 0.54 per cent at 31,515.

Global markets: On Wall Street, the S&P 500 and the Dow Jones Industrials fell nearly a per cent lower on Wednesday as data showed US private employers laid off 20 million workers in April. The Nasdaq Composite added 45.27 points, or 0.51%, to 8,854.39.

FII and DII data: Foreign portfolio investors (FPIs) sold shares worth Rs 494 crore while domestic institutional investors (DIIs) bought shares to the tune of Rs 327 crore on Wednesday, data available with NSE suggested.

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