All the sectoral indices were trading in positive territory. Nifty FMCG index was the top sectoral gainer driven by gains in HUL, Mc Dowell, Dabur India and Emami
Reversing the yesterday’s massive losses, domestic equity market benchmarks Sensex and Nifty were trading in range on Tuesday. In the opening session, Sensex jumped 200 points to 40,536, while the Nifty too opened higher at 11,877, but pared off the gains after few minutes. Around 10.15 AM, S&P BSE Sensex was trading 103 points or 0.26 per cent higher at 40,459, while the broader Nifty 50 index was ruling at 11,866, up 19 points or 0.31 per cent. “We expect the markets to be choppy in the near term as global sentiments continue to remain muted. In addition, F&O expiry could also induce some volatility during the week. On an optimistic note, any positive outcome from the US president’s India visit in terms of strategic partnership/trade deal could possibly cheer the Indian markets,” Ajit Mishra, VP – Research, Religare Broking Ltd said.
20 Sensex stocks in green– As many as 20 out of 30 Sensex stocks were trading in green. NTPC was the top gainer on the index with a growth of 1.91 per cent, followed by ONGC, HUL, Bharti Airtel and Asian Paints. On the flip side HCL Tech was the top laggard on the Sensex pack, down 2.20 per cent. Sun Pharma, Bajaj Auto, Tech Mahindra and Titan were among the other losers.
Nifty Metal index recoups previous session’s losses- All the sectoral indices were trading in positive territory. Nifty FMCG index was the top sectoral gainer, up 1.35 per cent or 415 points, driven by gains in HUL, Mc Dowell, Dabur India nd Emami. However, reversing previous session’s losses, Nifty Metal index, too was trading higher with Jindal Steel, JSW Steel and Vedanta as top index gainers.
Global markets- Asian share markets were trying to stabilize on Tuesday. South Korea’s hard-hit market edged up 0.8 per cent and MSCI’s broadest index of Asia-Pacific shares outside Japan fight back to flat. Japan’s Nikkei was down 2.8 per cent and Shanghai blue chips eased 0.7 per cent. On Wall Street, S&P 500 and the Dow Jones Industrial Average on Monday suffered their biggest one-day percentage losses in two years. The Dow Jones Industrial Average fell 1,031.61 points, or 3.56 per cent, to 27,960.8, the S&P 500 lost 111.86 points, or 3.35 per cent, to 3,225.89 and the Nasdaq Composite dropped 355.31 points, or 3.71 per cent, to 9,221.28.
FII and DII data- Foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 1,160.90 crore while the domestic institutional investors (DIIs) were net sellers to the tune of Rs 516 crore on a net basis on Monday, as per the NSE data.
Coronavirus scare- China reported a rise in new coronavirus cases in Hubei province, the epicentre of the outbreak, on Tuesday while the rest of the country saw a fourth-straight day of declines. Hubei had 499 new confirmed cases on Feb. 24, the National Health Commission said, up from 398 a day earlier and driven mainly by new infections in the provincial capital of Wuhan. Mainland China in total had 508 new confirmed cases, totaling the number of confirmed cases in mainland China so far to 77,658, as per the Reuters news report