The S&P BSE Sensex and NSE Nifty 50 indexes got here off intraday low ranges however had been nonetheless down practically 1 per cent weighed down by weak spot in Reliance Industries, HDFC, ICICI Bank, Axis Bank, Infosys and Larsen & Toubro. However, good points in ITC, Hindustan Unilever, HDFC Bank and Bharti Airtel saved draw back underneath test. A soar in coronavirus instances the world over and at dwelling stoked fears of renewed restrictions that might hit enterprise actions, dimming hopes of a fast financial restoration.
As of 1:12 pm, the Sensex was down 287 factors at 34,884 and Nifty fell 84 factors to 10,299.
COVID-19 instances in India jumped by 19,459 to 548,318 as of Monday morning, with the dying toll rising to 16,475, based on well being ministry information.
Nine of 11 sector gauges compiled by the National Stock Exchange had been buying and selling decrease led by the Nifty Metal index’s Three per cent fall. Nifty Bank, PSU Bank, Private Bank, Media and Financial Service indexes fell between 1-Three per cent every.
On the opposite hand, Nifty FMCG index was prime gainer, up 1 per cent.
Mid- and small-cap shares had been underperforming their bigger friends as Nifty Midcap 100 and Nifty Smallcap 100 indexes fell 1.four per cent every.
Forty out of the 50 shares in Nifty had been buying and selling decrease led by Coal India’s 5 per cent decline. Axis Bank, Hindalco, Zee Entertainment, Bajaj Finance, State Bank of India, Larsen & Toubro, IndusInd Bank, Vedanta and Bajaj Finserv had been additionally among the many laggards.
On the flipside, ITC Limited shares rose greater than four per cent on Monday, after the fast-moving client items main reported a 9.05 per cent rise in standalone web revenue rose to Rs 3,797.08 crore in quarter ended March 31. The enhance in ITC’s revenue got here on account of a decrease company tax outgo regardless of a decline in revenues.
Britannia Industries, Cipla, Hindustan Unilever, Mahindra & Mahindra, Asian Paints and HDFC Bank had been among the many notable gainers.
The general market breadth was detrimental as 1,618 shares had been declining whereas 1,032 had been advancing on the BSE.