Markets weak amidst curbs in States due to rise in Covid-19 cases, Domestic indices fall

Market outlook today: Reliance securities

After a three-day winning streak, domestic indices fell on Friday as it appeared that investors became cautious of market investment due to curbs imposed by some states in India due to spread of Coronavirus.

The 30-share Sensex fell 190.97 points or 0.33 per cent to close at 57,134.31 while its broader peer Nifty came down 68.85 points or 0.40 per cent to end at 17,003.75 points.

It stocks witnessed buying but all other sectors came under selling pressure.

India VIX went up 2 per cent to 16.5< Lakshmi Automation spiked 7 per cent more as United Assurance sold shares. HCL Tech gained as much as 3 per cent amidst reports that promotors were considering to raise stake. Data patterns increased 29 per cent in debut trade and witnessed profit booking.

Among the top companies, HCL was the topmost gainer, increasing 2.86 per cent. The others were Tech Mahindra, SBI Life Insurance, Wipro, SBI Life Insurance, Infosys, TCS and Reliance Industries.

Grasim Industries and NTPC were among the top losers falling 2.93 per cent each. The others which landed in the Red included Eicher Motors, ONGC, M&M, Indian Oil, Axis Bank and Kotak Mahindra Bank.

Except Nifty IT which went up 0.98 per cent, all other sectors on NSE ended in the Red.

Among the top losers was Nifty PSU Bank as it came down 1.94 per cent. The other losers included Nifty Realty, down by 1.48 per cent. Nifty Auto and Pharma also were the losers.

Market breadth was in favour of losers as 1573 stocks ended in the Green while stocks of 1751 companies settled with cuts. 

Amidst rising cases of Covid-19, Maharashtra today prohibited gathering of more than 5 persons in public places in the night hours between 9 pm and 6 am.

 

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