Sensex advanced by 167.19 points to close at 30196.17 after losing intraday gains of over 700 points. Nifty ended at 8879.10 to gain 55.85 points. Sensex and Nifty closes with an increase of around 0.60% leading to a hike in Rupee against US Dollar.
An early-stage successful trial by Moderna, US biotech firm against COVID-19 helped in the upliftment of investors’ sentiments. Also, the Asian Markets turning green gave positive hope to the Indian equity market. However, markets fell after early gains in today’s session due to the disappointment towards Government’s 20 lakh crore relief package.
Top Gainers: Sensex and Nifty
Bharti Airtel ended in green gaining 10.81% followed by Adani Ports, ONGC and Grasim surging 9.0%, 5.69% and 3.87% respectively. Other gainers from today’s session include JSW Steel, Infratel and ITC gaining more than 3%.
Today, Asian markets surge led to the Indian equity market gaining except for the Banking sector.
Losers: Sensex and Nifty
UPL tanked 9.78% today due to government notification banning certain pesticides. Followed by Vedanta Ltd., Reliance ltd and IndusInd Bank that fell by 2.65%, 2.20% and 2.10% respectively. Other losers from today’s session included L&T, Hindustan Unilever, Cipla and Axis Bank decreasing by more than 1%.
The investors were disheartened with the details of the stimulus package by the Government dragging the market to end low.
FII and DII
Foreign Institutional Investors invested a huge amount of INR 13613.73 crores in the Indian equity market. A sell-out of more than INR 14942 crores due to the worries about the unstable market performance. A total of INR 1328.31 crores were taken out as of today from the market.
Domestic Institutional Investors bought stocks of value INR 4362.13 crores and sold off shares of value INR 2702.39 crores, investing more by a net amount of INR 1659.74 crores. A decisive run of the equity market and rise in Rupee uplifted the investors’ sentiments.
The drop of induced investment from Foreign as well as Domestic investors is due to the uncertainty in the economy with increasing cases of Coronavirus.