INDIAN EQUITY MARKET WITNESSED A HUGE SELL OFF AS ACROSS THE BOARD

Domestic Equity market ended lower for the fifth straight session as weak global cues, rising bond yields, and fears of Covid-19-led lockdown came to haunt the bulls on the Street. Net Buying of FPI/FII was at Rs.118.75 crore while net selling of DII was at Rs.1174.98 crore. The Sensex plunged 1145.44 points, or 2.25 percent, to 49,744.32 with shares of Dr. Reddy, Mahindra & Mahindra,Tech Mahindra, IndusInd Bank, Axis Bank, TCS,L & T ,Reliance were having loss of 4.77%, 4.51%, 4.42%, 4.25%,3.96%, 3.69%, 3.68%, 3.52% respectively while shares of ONGC, HDFC Bank, Kotak Bank were having gains of 1.14%,0.64%, 0.58% respectively. The Nifty ended at 14,675.70, down 306.05 points, or 2.04 percent with indexes like Media, IT, Realty, Pharma, Auto lose the most with having loss of 3.42%, 2.89%, 2.80%, 2.55%, 2.28% respectively while Metal Index was the only gainer with a gain of 1.60%.

TOP STOCKS IN NEWSCAST:

ONGC surged over 1% as the company maintained BUY rating on the back of buoyant oil prices and potential overhaul in nominated block (APM) gas pricing.

HDFC Bank gained nearly 1% as the bank has offered it’s Indian Oil Credit Card which can give up to 50 litres of fuel for free. The HDFC IOCL card promises fuel points on every refill carried out at Indian Oil fuel outlets and on bill payments, grocery shopping and other utility payments. The cardholders could end up earning up to 50 litres of free fuel every year.

Tata Consultancy Services (TCS ) lost over 3% as the market value of the company tanked Rs 44,672.14 crore to Rs 11,52,770.11 crore.