RIL, HDFC Bank push Sensex 400 points down from day’s high; key things from today’s trade

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September 7, 2020 10:18 AM

After opening nearly 100 points up, BSE Sensex fell 394 points from day's high while Nifty 50 breached the crucial 11,300-mark on the downside to trade half a per cent lower.

Sensex, NiftyAmong top Sensex laggards, M&M shares fell the most, down nearly 3 per cent. It was followed by telecom major Bharti Airtel

Indian share markets were trading volatile on Monday, tracking mixed cues from Asian peers. After opening nearly 100 points up, BSE Sensex fell 394 points from day’s high on Monday. While the broader index Nifty 50 breached the crucial 11,300-mark on the downside to trade half a per cent lower. In today’s trade, broader markets underperformed equity benchmarks. S&P BSE MidCap was trading 80 points or 0.54 per cent down at 14,738, while the S&P BSE SmallCap index was ruling at 14,525, down 78 points or 0.53 per cent.

Axis Bank gains over 2%: Out of 30 Sensex stocks, just 10 scrips were trading in positive territory. Axis Bank share price gained over 2 per cent, followed by Maruti Suzuki, State Bank of India (SBI), ICICI Bank, Tata Steel, Asian Paints. The other Sensex gainers were HDFC, Titan Company, TCS and Hindustan Unilever.

M&M shares slip 3%: Among top Sensex laggards, M&M shares fell the most, down nearly 3 per cent. It was followed by telecom major Bharti Airtel, which declined 1.70 per cent. ONGC, HCL Tech, NTPC, Bajaj-Auto and ITC. Similarly, Reliance Industries, HDFC Bank, Kotak Mahindra Bank and Sun Pharma were other losers on the index.

All sectoral indices slip in red: Barring Nifty Bank index, all the sectoral indices were trading in the negative territory. Nifty Pharma index was the top loser, down nearly 1 per cent, dragged by Aurobindo Pharma, Cipla, Cadila Healthcare and Lupin.

Results today: CG Power and Industrial Solutions, Future Lifestyle Fashions, Future Market Networks, General Insurance Corporation of India, Hindustan Oil Exploration and Info Edge India are among companies that are scheduled to report their quarterly earnings today.

FII and DII: On Friday, foreign institutional investors (FIIs) sold shares worth Rs 1,888.78 crore, while domestic institutional investors (DIIs) also sold shares worth Rs 456.88 crore on a net basis, according to the provisional data available on the NSE.

Global markets: Asian stocks were trading mixed on Monday with Japan’s Nikkei down 0.35 per cent, while Topix shed 0.22 per cent. On the other hand, South Korea’s Kospi was trading 0.75 per cent higher.

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