INDIAN EQUITY MARKET ENDED LOWER ON TUESDAY FOLLOWING WEAKNESS IN GLOBAL PEERS

Domestic Equity Market ended lower on Tuesday as surging Covid cases raised fears of the prolonged economic slump.

The BSE Sensex slipped 300.06 points or 0.79 per cent to settle at 37,734.08 levels.8 out of 30 stocks were in advance while 22 stocks were in decline. It touched intraday high of 38,209.97 and low of 37,531.14.

The Nifty 50 ended at 11,153.65 levels, down 96.90 points, or 0.86 per cent. 14 out of 50 stocks were in advance while 36 stocks were in decline. It touched intraday high of 11,302.20 and low of 11,084.65.

Sectoral Front, IT, Pharma Indexes were the gainers with a gain of 0.70%, 0.66% respectively whereas Media, Energy, Realty, Auto, Metal, Bank, FMCG Indexes were the losers with a loss of 2.60%, 1.96%, 1.85%, 1.75%, 1.18%, 1.07%, 0.78% respectively.

On BSE, Shares of HCL Tech, TCS, Tech Mahindra, Sun Pharma, ICICI Bank, Bharti Airtel, Tata Steel, SBI were in the gainer side with a gain of 2.43%, 2.39%, 1.70%, 1.35%, 1.04%, 0.68%, 0.25%, 0.19% respectively while shares of Maruti,L & T,IndusInd Bank, Axis Bank,ONGC,HDFC,Reliance were the losers with a loss of 2.83%, 2.82%, 2.79%, 2.59%, 2.32%, 1.95%, 1.95% respectively.

On NSE, Shares of HCL Tech, TCS, Tech Mahindra, Sun pharma, Grasim, Ultratech Cement, Cipla, ICICI Bank were the gainers with a gain of 2.89%, 2.50%, 2.36%, 2.02%, 1.48%, 1.29%, 1.29%, 1.13% respectively while shares of Zee limited ,Infratel, Adani Ports, Gail, IndusInd Bank, Maruti, Tata Motors ,Axis Bank, L & T were the losers with a loss of 6.64%, 4.69%, 4.66%, 4.54%, 3.26%, 3.19%, 2.62%, 2.50%, 2.48% respectively.

Asian shares extended losses for the second day on Tuesday while the dollar rose, as possible delays in expanded U.S. stimulus and concerns about fresh pandemic lockdowns in Europe knocked investor sentiment.

European stocks were higher Tuesday, attempting to bounce back from Monday’s losses on coronavirus concerns and bank allegations.

U.S. stock futures wobbled Tuesday, signalling that stocks may steady after a bout of volatility that has eroded investors’ confidence in the market’s months long rebound.

TOP STOCKS IN NEWS:

HCL Tech rose over 2.50% as the company announced its intent to acquire DWS Limited, an Australian IT, business and management consulting group.

Tech Mahindra gained over 2% as Tech Mahindra has partnered with Kings XI Punjab to launch a dedicated fan engagement app to connect with fans virtually during the COVID-19 pandemic.

Shares of TCS jumped over 2% as the company had announced the expansion of its partnership with Morrisons, a supermarket chain in the UK, through a five-year contract for application management services, data services and cybersecurity services.