Sensex slips 500 points from day’s high, key factors weighing the markets today

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Published: February 14, 2020 11:10:14 AM

The S&P BSE Sensex was trading 200 points or 0.48 per cent lower at 41,259 points, while the broader Nifty50 index was ruling at 12,124, down 50 points or 0.42 per cent.

Sensex, NiftyICICI Bank, UltraTech Cement, Infosys, Maruti and SBI were among major index contributors.

Domestic equity market benchmark Sensex and Nifty were trading in negative territory after shedding opening gains on Friday, taking cues from their Asian peers. “The updates on the spread of Coronavirus would continue to remain one of the key monitorable for market participants. On the domestic front, the last leg of earnings announcement would induce stock-specific volatility in select companies. Further, given the higher than expected CPI data and lower IIP growth numbers disappointed the street, however, WPI data scheduled to release would also be actively tracked. We continue to maintain our cautious stance due to stretched valuations and subpar earnings season, Ajit Mishra, VP – Research, Religare Broking Ltd said.

Sensex, Nifty trade flat- The S&P BSE Sensex was trading 200 points or 0.48 per cent lower at 41,259 points, while the broader Nifty50 index was ruling at 12,124, down 50 points or 0.42 per cent.

Top index contributors- ICICI Bank, UltraTech Cement, Infosys, Maruti and SBI were among major index contributors. At index level, Bajaj-Auto was the top Sensex gainer, up 1.89 per cent, followed by UltraTech Cement, HCL Tech, Asian paint and Maruti. On the flip side, IndusInd Bank was the top loser on the Sensex, down 1.09 per cent. ONGC, M&M, RIL and ITC were among the top laggards in the morning deals.

Nifty sectoral indices trade mixed- All the sectoral indices were trading mixed in the morning deals. Nifty FMCG index was trading half a per cent lower dragged down by Godrej Industries, Godrej Consumer Products and ITC. However, the Nifty IT index was trading higher led by gains in Mindtree, Hexaware Technologies, NIITTech and HCL Tech.

Asian shares tick up- Asian shares edged up on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.3%, led by gains in Hong Kong and South Korea. On the week, the pan-regional index was up 1.94%.

China reports 5,000 new coronavirus cases- China’s coronavirus outbreak showed no sign of peaking with health authorities on Friday reporting more than 5,000 new cases, while passengers on a cruise ship blocked from five countries due to virus fears finally disembarked in Cambodia. China’s National Health Commission said it had recorded 121 new deaths and 5,090 new coronavirus cases on the mainland on Feb. 13, taking the accumulated total infected to 63,851 people, as per Reuters news report.

FII and DII data- Foreign institutional investors (FIIs) bought shares worth Rs 1,061.39 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 960.48 crore on a net basis on Thursday, as per the data available on the NSE.

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