Domestic Equity Market showed a negative sign and fell nearly 2% led by losses in index heavyweight Reliance Industries, private lenders and select IT stocks. Banking and Financial Services stocks led the losses while the pharma, metal and auto indices pressurised further. Net selling of FII/FPI was at Rs.1,688.22 crore while net selling of DII was at Rs.3.38 crore. The Sensex plunged 937.66 points, or 1.94 percent to close at 47,409.93 with shares of Tech Mahindra ,ITC, Powergrid,Ultratech Cement,HCL Tech ,Nestle India were having gains of 2.59%, 1.35%, 1.21%, 0.80%, 0.79%, 0.60% respectively while shares of Axis Bank, Titan, IndusInd Bank, HDFC Bank, Dr. Reddy,HDFC ,Asian Paints were having loss of 4.05%, 3.88%, 3.61%, 3.60%, 3.41%, 3.33%,3.13% respectively. The Nifty ended at 13,967.50, down 271.40 points, or 1.91 percent with Indexes like Bank,Metal,Realty,Auto, Pharma, Energy were having loss of 2.93%, 2.52%, 2.17%, 2.14%, 2.01%, 1.73% respectively while FMCG Index was the only gainer with having gain 0.30%.
TOP STOCKS IN NEWSCAST:
Tech Mahindra gained nearly 3% as the company has been recognized as the only Indian organisation amongst the ‘2021 Global 100 Most sustainable corporations in the World’ by Corporate Knights.
Powergrid surged over 1% as the transmission company has filed a DRHP (draft red herring prospectus) with market regulator SEBI to monetise assets and raise around Rs 8,000 crore or more than a billion dollars via the InvIT ( infrastructure investment trust) route.
Ultratech Cement rose nearly 1% as Centrum Broking has buy call on UltraTech Cement with a target price of Rs 6312.
HCL Tech Jumped nearly 1% as the company was committing $750,000 over the course of three years in a partnership with University of California, Berkeley to create a Health Technology Collaborative Laboratory (“CoLab”) housed in the Blum Center for Developing Economies on the university’s campus in Berkeley, California.