BSE Sensex index closed 97 points down at 33507, and NSE Nifty50 settles 32 points low at 9881 tracking volatility in the equity market. Bears managed to get the upper hand at the end of the trade pulling the market to close in red. The outflow of foreign funds and volatility persists in the market. Rupee settles the day with a continued losing streak.
Escalation of border tensions with China and spiking Coronavirus cases led the market’s sentiments lower. Analysts believe that market will remain volatile and investors to look out for stock-specific opportunities. Selling pressure in the Power, Finance and Banks while, Telecom, Auto and Realty sector witnessed buying. Bad performance of financial stocks outweighed and forced the market to end low. Traders are advised to watch out for options in the declining market to reap advantage. Investors’ hopes rise due to successful report of Coronavirus vaccine.
Top Gainers: S&P BSE Sensex and Nifty50
In the BSE market, Bhagyanagar Industries surged the highest by 20%. Other gainers include Bansal Roofing, Hitech Corporation and Megastar Foods rising by 20%, 20% and 19.98% respectively. In the NSE market, Gufic Bio topped the list by 20%. Following that Zuari Global, Guj Sidhee Cements and NACL Industries surges 20%, 19.96% and 19.96% respectively.
On BSE Sensex index, Maruti Suzuki surged the highest by 4.15%. Subsequently, Bharti Airtel, Axis Bank, Bajaj Finance and Titan Company rising by 3.43%, 2.10%, 1.31% and 0.53% respectively. On NSE Nifty50 index, Bharti Airtel ranked the highest by 3.40%. Other gainers include Wipro, IndusInd Bank, Britannia and BPCL soaring 2.54%, 1.94%, 1.68% and 1.35% respectively.
Losers: S&P BSE Sensex and Nifty50
In the BSE market, Cospower dropped the most by 13.19%. Other losers include Kenvi Jewels, RPP Infra Projects and Balkrishna 12.72%, 10.66% and 9.76% respectively. In the NSE market, Dev Information lost the most by 11.62%. Meanwhile, following that are GPT Infra, Schneider Infra, Control Print and D. P. Abhushan losing 9.89%, 8.29%, 6.85% and 5.56% respectively.
On BSE Sensex index, Kotak Mahindra lost the highest by 2.81%. Next, ITC, M&M, HDFC and Asian Paints losing 1.97%, 1.85%, 1.58% and 1.54% respectively. On NSE Nifty50 index, Bharti Infratel slumped the most by 4.51%. Closely following Bharti Infratel is Shree Cements, Power Grid Corporation, Bajaj Finserv, Vedanta dipping by 2.15%, 1.97%, 1.78% and 1.69% respectively.
FII and DII
Foreign Institutional Investors pulled out a total of INR 486.62 crores from the domestic institutional investors. A drop in the amount of outflow of foreign funds is being noticed hoping for a quick recovery. Meanwhile, foreign investors bought stocks of value INR 4910.75 crores and sold-off stocks of value INR 5397.37 crores making a negative impact.
Domestic Institutional Investors bought about INR 3759.97 crores and sell-off stocks of value INR 3591.92 crores inducing a positive amount in the equity market. Also, local investors invested an amount of INR 168.05 crores tracking decisive rally and rising hopes of economic recovery.