ITC, Reliance Industries, M&M, Asian Paints and Maruti Suzuki were among the top contributors towards today's fall
Headline indices BSE Sensex and Nifty 50 were trading volatile in Wednesday’s session. Both indices opened with upticks but soon gave up all the morning gains and turned negative. Sensex was down 44 points or 0.14 per cent to trade at 30,565, while the broader Nifty 50 index was ruling flat at 9,025. In the 30-share pack Sensex, M&M was the top laggard, down 2.87 per cent at Rs 417 apiece. UltraTech Cement, Asian Paints, ITC, Titan and NTPC were down 1.5-3 per cent. In Nifty 50, 27 stocks were trading red while 23 were ruling in positive territory.
ITC, RIL to index contributors to Sensex’s fall: ITC, Reliance Industries, M&M, Asian Paints and Maruti Suzuki were among the top contributors towards today’s fall. On the other hand, Kotak Mahindra Bank was the top Sensex gainer as the lender on Tuesday disclosed the floor price for its qualified institutional placement (QIP) at Rs 1,147.75 per share for raising capital by a fresh issue of 6.5 crore shares.
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FMCG stocks under pressure: Nifty FMCG index was down nearly 1 per cent dragged by losses in Emami, Jubilant Foodworks, ITC and Godrej Industries. While Nifty Bank index was trading higher led by gains in Kotak Mahindra Bank, ICICI Bank and Axis Bank.
Corporate earnings: Ujjivan Financial Services, Quess Corp, Dabur India, Sun Pharmaceutical, Aditya Birla Fashion, JP Associates, Vaibhav Global, Tata Investment Corporation, United Spirits and JSW Holdings are among 21 companies that slated to announce their March quarter earnings today.
Spike in coronavirus cases: In the last 24 hours, India witnessed a sharp spike in COVID-19 cases. The total number of cases in the country now stands at 1,51,767 with the death toll at 4,337.
FII and DII data: Foreign institutional investors (FIIs) bought shares worth Rs 4,716.13 crore, while domestic institutional investors (DIIs) also bought shares worth Rs 2,841.09 crore on net basis on Tuesday, according to the provisional data available on the NSE.