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 metallic, 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. Rising calls, together with from an trade physique, to impose curbs on the nationwide degree 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 trade physique on Sunday urged authorities to take the “strongest nationwide steps” and to curtail financial exercise to save lots of lives, because the coronavirus continued to brush the nation and overwhelm its healthcare programs.
Six of 11 sector gauges compiled by the Nationwide Inventory Trade have been buying and selling decrease led by the Nifty Personal Financial institution index’s over 1 per cent decline. Nifty Financial institution, Media, PSU Financial institution and Realty indexes additionally fell between 0.5-1 per cent.
However, Nifty Steel, Auto FMCG and Pharma indices have been up between 0.6-2 per cent.
Adani Ports was prime Nifty gainer, the inventory rose four per cent to Rs 759. Tata Metal, 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 Financial institution, Axis Financial institution, Reliance Industries, Kotak Mahindra Financial institution and BPCL have been among the many losers.
(With inputs from Reuters)