The Indian fairness benchmarks got here off intraday low ranges to shut on a flat word as good points in metallic, FMCG and auto shares have been offset with losses in banking and monetary companies shares. The Sensex fell as a lot as 754 factors and Nifty 50 index touched an intraday low of 14,416. Growing calls, together with from an trade physique, to impose curbs on the nationwide stage to rein within the COVID-19 unfold dampened investor sentiment, analysts mentioned.
The Sensex ended 64 factors decrease at 48,719 and Nifty 50 index superior 3 factors to shut at 14,634.
A number one trade physique on Sunday urged authorities to take the “strongest national steps” and to curtail financial exercise to save lots of lives, because the coronavirus continued to brush the nation and overwhelm its healthcare programs.
Six of 11 sector gauges compiled by the National Stock Exchange ended decrease led by Nifty Private Bank index’s over 1 per cent fall. Nifty Bank, PSU Bank, Realty and Media sector gauges additionally ended decrease.
On the opposite hand, metallic index climbed over 2 per cent. FMCG, auto and pharma shares witnessed shopping for curiosity.
Mid- and small-cap shares outperformed their bigger friends as Nifty Midcap 100 index rose 0.3 per cent whereas Nifty Smallcap 100 index climbed 1 per cent.
SBI Life was prime gainer within the Nifty 50 basket of shares, the inventory rose 5 per cent to shut at Rs 979 after its New Business Premium got here in at Rs 20,620 crore registering development of 24 per cent with personal market share of 21.9 per cent. Bharti Airtel, Adani Ports, Tata Steel, Maruti Suzuki, Asian Paints, Hindustan Unilever, NTPC, UPL and Hindalco additionally rose between 1.5-4.5 per cent.
On the flipside, Reliance Industries fell 2 per cent to shut at Rs 1,956 after its revenue in March quarter missed analyst estimates.
Titan, IndusInd Bank, Bharat Petroleum, Wipro, Kotak Mahindra Bank, Hero MotoCorp, Eicher Motors, ITC and Coal India have been among the many losers.
The general market breadth was optimistic as 1,823 shares ended larger whereas 1,218 closed decrease on the BSE.
