INDIAN EQUITY MARKET FELL FOR THE THIRD CONSECUTIVE SESSION DRAGGED BY SELLING IN METALS, BANKS AND FINANCIAL STOCKS

Domestic Equity Market ended lower for the third consecutive session on Tuesday as investors fretted over rising cases of Covid-19 cases in the country and amid new localised restrictions. Net Buying in FII/FPI was at Rs.1,692.31 crore while Net selling of DII was at Rs.1,168.59 crore.The Sensex ended 31.12 points, or 0.06 percent lower at 50,363.96 with shares of Asian Paints, Dr. Reddy, HUL, HCL Tech, TCS, Ultratech Cement, ITC, Bharti Airtel were having gains of 4.87%, 2.44%, 1.48%, 1.43%, 1.38%, 1.32%, 1.27%,1.25% respectively while shares of LT, ICICI Bank, SBI, HDFC Bank, HDFC , Axis Bank, Kotak Bank, Bajaj Finserve ,NTPC were the losers with a loss of 1.56%, 1.38%, 1.37%, 1.07%, 0.96%, 0.95%, 0.78%, 0.75%, 0.72% respectively. The Nifty fell 19.05 points, or 0.13 percent, to close at 14,910.45 with IT, FMCG, Auto Indexes were having a gain of 1.27%, 0.89%, 0.15% respectively whereas Bank, Metal, Realty, Energy, Pharma, Media Indexes were having a loss of 1.07%, 0.85%, 0.56%, 0.15%, 0.10%, 0.08% respectively.

TOP STOCKS IN NEWSCASTS:

Asian paints surged over 4% as the company has launched a new campaign on the theme of ‘budget wala paint, to give further impetus to consumers to move from distemper to Tractor Sparc upgrades.

Dr. Reddy’s lab surged over 2% as the pharma giant completed phase-3 trails of Russian Covid—19.

HUL rose over 1% as the board of HUL has allotted 8,390 Equity Shares of Re. 1/- each under ESOP, which vide Shareholder’s Resolution dated 29th May, 2006 is known as “2006 HLL Performance Share Scheme.

TCS gained 1% as Tata Consultancy Services has been recognized as a Leader in the Gartner Magic Quadrant for Data and Analytics Service Providers.