MARKETS TRADED LOWER AND LOST OVER ONE AND A HALF PERCENT AS PARTICIPANTS WERE IN THE PROFIT-TAKING MOOD

Domestic Equity Market has shown negative sign on Wednesday as investors booked profits after a tremendous bull run. Net buyers of FII stood at 24.20 crore. The BSE Sensex settled 694.92 points lower at 43,828.10 levels led by ONGC gained over 6% followed by Powergrid ,IndusInd Bank with having slight gain whereas IndusInd Bank, Axis Bank, Sun Pharma, HDFC Bank ,Bajaj Finance, Asian Paints were the top draggers lose by 3.22%, 3.16%, 2.16%, 2.50%, 0.49%, 0.41% respectively .The NSE Nifty slipped over 1.5% with Realty, Pharma, Bank, Auto, IT index fell 2.25%, 2.07%, 1.82%, 1.68%, 1.62% respectively.

TOP STOCKS IN NEWSCAST:

ONGC moved over 6% followed by an industry report showing a higher-than-unexpected rise in U.S. crude stockpiles and extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.

Eicher Motors stood as the top loser of today’s session on profit booking after a recent rally. The Company’s consolidated net profit dropped 40% to Rs 343.34 crore on 2.7% decrease in net sales to Rs 2,111.98 crore in Q2 September 2020 over Q2 September 2019.

Dr.Reddy lose over 2% on Today’s session as American pharma giant Pfizer and its group companies have filed a petition in a US court against Dr Reddy’s Laboratories alleging the Indian generic drug makers were planning separately to come out with generic versions of its blockbuster drug Ibrance (Palbociclib) before expiration of its patent.