Sensex, Nifty End Lower; Only I.T. And Metals Buck The Trend
Rising Covid Cases Dampen Sentiment
Indian equities began the new trading week on a negative note, ending with losses as rising coronavirus cases kept a check on investor sentiment. India reported over 1 lakh new cases for the first time since the onset of the pandemic.
The S&P BSE Sensex ended 1.7% or 870 points lower at 49,159. The index, however, recovered nearly 600 points from the lowest point of the day. The NSE Nifty 50 index also recovered nearly 200 points from the day's low but ended 1.5% lower at 14,637.
Among the sectoral indices, it was a day to forget for banks and private financials. The Nifty Bank index fell over 1,150 points or close to 4% to end at 32,678. Five out of the top 10 laggards on the Nifty 50 index were private financials. The PSU Bank index was the top sectoral laggard, ending 4.1% lower.
Nifty Realty and Nifty Media indices also saw losses of over 3% in today's trading session. The Auto index fell 2.5% while the FMCG index declined 1.6%.
Metals and technology names were the only ones that bucked the trend in today's session. The Nifty I.T. index ended with gains of close to 2% for the day while the Metal index rebounded from the day's low to end 0.9% higher.
Broader markets also ended with losses, majorly in-line with the benchmark indices. The Nifty Midcap index fell 1.3% while the Smallcap index declined 1.5% in today's session.
The India Volatility Index, which had risen as much as 14% at one point during the day, ended with gains of 6.1% at 21.22.
1,308 stocks on the NSE ended with losses while 647 managed to post gains.