Biggest Drop In Over A Month
Indian equities fell the most in over a month as a rapidly rising second wave of the coronavirus across the country acted as the key deterrent to market sentiment.
The S&P BSE Sensex fell 1,707 points or 3.44% to end at 47,883 while the NSE Nifty 50 index shed 524 points or 3.53% to end at 14,310. Both benchmark indices fell the most since February 26 this year when a rise in global bond yields sparked a wave of panic selling among investors. Both Sensex and Nifty also ended lower for the second straight day. 46 out of the 50 index stocks ended the day with losses.
All sectoral indices ended the day with losses. Most of them saw their biggest single-day drop since May last year. The PSU Bank index was the top sectoral laggard, ending 9.3% lower.
Other major laggards in today's session were the Nifty Media index (down 8.1%), Nift Realty index (down 7.5%) and the Nifty Metal index (down 6.1%). The Nifty Auto index also saw losses of over 5% in today's session.
The Nifty FMCG index fell 2% while the I.T. index declined 2.3% ahead of TCS' fourth quarter results.
Broader markets saw sharper cuts in today's session. The Nifty Midcap index fell 5.7%, the most in over a year while the Smallcap index too fell 5.6% in today's session.
The India Volatility Index rose the most in over a month, ending 16.2% higher at 22.99.
1,740 stocks on the NSE posted losses while 241 ended higher in today's session.
How Did The Sectoral Indices Fare
All Stocks On The Metal Index Decline
Uncertainty Over Auto Sales, Says SIAM
Auto Index Falls To Three-Month Low
Rupee Down For Sixth Straight Day
Coforge Announces Acquisition
- Proposes to acquire 80% stake in SLK Global Solutions over a period of two years.
- 35% equity to be acquired today while 25% to be acquired within 23 business days from April 12
- The remaining 20% stake to be acquired after two years
- To acquire the first 60% stake for a sum of Rs 918.32 crore
- Transaction to enable Coforge acquire a new top-5 client.
Benchmark Indices Remain Near The Day's Low
- Nifty down 3.4% at 14,336
- Sensex down 3.3% at 47,929
- Nifty Bank down 5.1% at 30,800
- Nifty Midcap index down 5.1%
- Nifty Smallcap index down 5.1%
- India Volatility Index up 15.4% to 22.84
- PSU Bank index remains the top sectoral laggard; down 8.6%
- Nifty Media index falls 7.6% while Realty index declines 7%
- Nifty Auto and Nifty Metal indices decline over 4.5% each
- Nifty I.T. and Nifty FMCG indices fall 2% each
- Nifty Pharma index pares most of its gains; trades 0.3% higher
- Cipla remains the top Nifty gainer; up 3.5%
- Tata Motors remains the top Nifty laggard; down 8.5%
- 46 out of the 50 index constituents decline
- 1,736 stocks on the NSE trade with losses while 208 stocks buck the trend
Blue Star Falls Most Since August 2020
- Declines as much as 6.8% to Rs 850
- Trades at the lowest in nearly two months
- Down for the second straight day
- Today's volumes are on par with its 20-day average
- Relative Strength Index (RSI) of the stock at 40
- 13 out of the 24 analysts tracking the stock have a buy rating; six sell calls
- The stock still trades 4.3% higher than its 12-month Bloomberg consensus price target of Rs 814.75
Media Index Falls To A Six-Month Low
Citi Research On The Impending Economic Recovery
Why Have Budget Motorbikes Suffered?
PSU Bank Index Falls Most In A Year
M&M Financial Falls Most In Nearly A Year
- Top laggard on the Nifty 500 index
- Falls as much as 14.6% to Rs 164.75
- Falls to the lowest in two months
- Down for the fourth straight day
- Today's volumes are more than double its 20-day average
- One-month implied volatility is 56%
- Stock in oversold territory with Relative Strength Index (RSI) at 29.5
- 22 out of the 34 analysts tracking the stock have a buy recommendation; 2 sell calls
- Return potential of the stock as per Bloomberg consensus data is 19.4%
Benchmark Indices Fall To Day's Low
- Nifty down 3.3% at 14,343
- Sensex down 3.3% at 47,954
- Nifty Bank down 5.2% at 30,758
- Nifty Midcap index down 5.5%
- Nifty Smallcap index down 5.3%
- India Volatility Index up 14.8% to 22.72
- PSU Bank index extends losses; down 9.1%
- Nifty Media index falls 7.7% while Realty index declines 7%
- Nifty Auto index falls 5.1%, all constituents decline
- Nifty I.T. index down 2.6% while FMCG index down 1.8%
- Nifty Pharma index is the only sectoral gainer; up 1.3%
- Cipla remains the top Nifty gainer; up 5.2%
- Tata Motors is the top Nifty laggard; down 9.5%
- 1,701 stocks on the NSE decline while 198 stocks gain
Solara Active Pharma Bucks The Trend
Benchmark Indices Remain Near Day's Low
RBL Bank At Five-Month Low
- Top laggard on the Nifty Midcap and Nifty Bank index
- Falls as much as 11.1% to Rs 187.6
- Biggest single-day drop in a year
- Trades at the lowest level since November 5, 2020
- Down for the third straight day
- Today's volumes are almost quadruple its 20-day average
- One-month implied volatility at 54%
- Stock in oversold territory with Relative Strength Index (RSI) at 29.2
- 18 out of the 30 analysts tracking the stock have a buy rating; six sell calls
- Return potential of the stock as per Bloomberg consensus data is 40%
India's Gold Imports Jump
Nifty Bank Index Falls Most In Nearly A Year
Rupee Below 75 Against The Dollar
Benchmark Indices Continue To Trade Lower
- Nifty down 2.4% at 14,483
- Sensex down 2.4% at 48,415
- Nifty Bank down 3.9% at 31,382
- Nifty Midcap index down 3.4%
- Nifty Smallcap index down 3.5%
- India Volatility Index up 11.3% to 22
- PSU Bank index is the top sectoral laggard; down 6.3%
- Nifty Realty index falls 5.2% while the Media index is down 4.2%
- Nifty Auto index declines 3.8% while Metal index is down 3%
- Nifty I.T. and FMCG indices decline 1% each
- Nifty Pharma is the only sectoral gainer; up 1.2%
- Cipla is the top Nifty gainer; up 3.2%
- IndusInd Bank is the top Nifty laggard; down 6.5%
- 45 out of the 50 index constituents trade with losses
- 1,617 stocks on the NSE trade lower while 201 are bucking the trend
How Are The Sectoral Indices Faring
A Gap-Down Opening
Indian equities opened lower as the country continues to report a record rise in new coronavirus cases. India had reported over 1.5 lakh new infections on Sunday.
The S&P BSE Sensex opened 1.3% lower at 48,956 while the NSE Nifty 50 index also opened 1.3% lower at 14,644. Both benchmark indices had eked out weekly losses on Friday.
Most sectoral indices have opened lower at the start of the new trading week. The Nifty Bank index has opened 2.5% or over 800 points lower. The PSU Bank index too has opened with losses of close to 3%.
Both Nifty Media and Nifty Metal indices have opened with losses of over 2% each while the Nifty Auto index is down 1.9% at the start of trade.
The indices bucking the trend are the Nifty I.T. index, which has opened with gains of 0.5% and the Nifty Pharma index which has gained 0.25%.
Broader markets too have opened lower in today's session. The Nifty Midcap index has opened 1.7% lower while the Smallcap index is down 1.6% at the start of trade.
Current Market Update
A Gap-Down Opening Likely
Good Morning!
Indian equities snapped a three-day winning streak on Friday to end the week on a negative note. Benchmark indices posted modest losses for the week, while metals and defensives like IT, pharma and FMCG outperformed.
Metal stocks were the top performers of last week, despite snapping a nine-day winning streak on Friday.
Futures, however, are indicating a gap-down opening for India's equity markets at the start of a new trading week. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 1.4% to 14,667, as of 8:00 a.m. on Monday
Earnings season for the January-March quarter also begins for the Nifty 50 companies with Tata Consultancy Services Ltd. reporting its results after market hours.
Asian equities are flat this morning despite a third straight weekly advance on Wall Street. Benchmarks in China and Hong Kong fluctuated, were flat in Japan and slightly lower in Australia.
- Futures on the Dow Jones are trading 90 points lower. The index gained 0.9% on Friday.
- Yield on the 10-year treasuries stood at 1.66%.
- West Texas Intermediate crude rose 0.5% to $59.6 per barrel.
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