Market benchmark Sensex staged a wise restoration from the day’s low to finish with marginal losses on Monday amid a damaging pattern in international equities.
After plunging over 750 factors in early commerce, the 30-share BSE index made a U-turn to end 63.84 factors or 0.13 p.c decrease at 48,718.52.
In an identical motion, the broader NSE Nifty closed 3.05 factors or 0.02 p.c increased at 14,634.15.
Titan was the highest loser within the Sensex pack, shedding over 4 p.c, adopted by IndusInd Bank, Reliance Industries, Axis Bank, Kotak Bank, ONGC, ITC, and ICICI Bank.
On the opposite hand, Bharti Airtel, HUL, Maruti, Bajaj Finance, Asian Paints, and NTPC have been among the many gainers.
“Domestic equities recovered sharply from the day’s low despite weak global cues. While growing uncertainties about collection efficiency and asset quality of banks/NBFCs dragged heavyweight financials, strong buying in FMCG and Metals supported the recovery in markets,” mentioned Binod Modi, Head Strategy at Reliance Securities.
While the persistent rise within the second wave of COVID-19 instances has weighed on buyers’ sentiments, regular company earnings with optimistic managements’ commentaries provided assist to markets, he famous.
Active COVID-19 instances in India rose to 34,13,642 towards 33,49,644 on Sunday, in accordance to a Health Ministry replace Monday morning.
Elsewhere in Asia, bourses in Hong Kong and Seoul ended on a damaging notice. Stock exchanges in Shanghai and Tokyo have been closed for holidays.
European markets have been largely buying and selling with losses in mid-session offers.
Meanwhile, worldwide oil benchmark Brent crude was buying and selling 0.63 p.c decrease at USD 66.34 per barrel.
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