BSE Sensex dropped by 128 points to close at 33980 falling below 34000. Further, NSE Nifty50 fell 32 points to end at 10029 barely surviving the 10000 mark. Indian financial market ended the session in red with sharp selling during the afternoon session. The Indian equity market has surged in the past six days. However, bulls lost momentum and surrendered gains to close in red today with bears taking over.
The weakening of European markets, along with a spike in COVID-19 cases in India, further deteriorated the investors’ sentiments. Equity market gave mixed signals and remain volatile. The Banking stocks after pulling the market in green in the past couple of days today fell by 2.6%. In BSE Sensex index, 15 shares advanced, while 15 shares declined. Energy, IT, Healthcare and Metal sectors ended in the green. Also, Rupee settled low against US Dollar marking a weak financial market.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, Wendt gained the most jumping by 20%. Other gainers in the list include Borosil, Wheels, PNB Gilts and Onward Tech increasing by 20%, 20%, 19.93% and 17.48% respectively. In the NSE market, Wheels topped the list increased by 20%. Further, Wendt, Saregama India, Khadim India and GeeCee Ventures surged by 20%, 19.99%, 19.96% and 19.95% respectively.
On BSE Sensex index, Tech Mahindra gained the most by 5.34%. Further, Sun Pharma, Bharti Airtel, HCL Tech and ITC rose by 3.98%, 3.89%, 2.79% and 1.65% respectively. On NSE Nifty50 index, Vedanta topped the list by 7.96%. Other gainers include Zee Entertainment Ltd., Cipla, PowerGrid Corp. and Reliance Industries surging by 5.06%, 3.02%, 2.86% and 2.47% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, DNL lost the most by 11.81%. Also, Pro Fin Capital, Dynamic Cables and Humming Bird lost 10.88%, 10.42% and 9.98% respectively. In the NSE market, Mold Tek Tech was affected the most, losing 8.61%. Other losers in the list included The Byke Hosp, Prime Sec and Oriental Hotels dipping by 8.40%, 7.73% and 7.48% respectively.
On BSE Sensex index, Asian Paints topped the list by 4.85%. Other stocks include Bajaj Finance, HDFC, IndusInd Bank and L&T losing by 4.13%, 3.95%, 3.81% and 3.14% respectively. On NSE Nifty50 index, Asian Paints was the most affected losing 4.82%. Further, Kotak Mahindra, Axis Bank, Bajaj Finserv and ICICI Bank dipped by 3.76%, 3.71%, 2.82% and 2.52% respectively.
FII and DII
Foreign Institutional Investors bought stocks of value INR 8506.04 crores and sold-off INR 5601 crores of stock value during today’s trading session. Foreign investors invested a net worth INR 2905.04 crores in the Indian financial market marking positivity in and rising hopes.
Domestic Institutional Investors took out a net amount of INR 847.31 crores from the domestic equity market. Sharp buying in the afternoon session and booking profit was witnessed, which led the market to close in red. They bought a total of INR 3622.8 crores of stocks and sold-off a value of INR 4470.11 crores of shares during today’s session.