INDIAN EQUITY MARKET FELL FOR THE FIFTH SESSION;IT AND PHARMA EMERGED AS THE TOP LOSERS

Domestic Equity Market gave up all the morning gains on Thursday US Treasury yields recorded a steep uptick of 5 per cent, causing equity holders to unwind their long positions. Besides, a single-day increase of over 35,800 Covid-19 cases, the highest since December 6, 2020, made market participants question the sustainability of the economic recovery. The Sensex declined 585.10 points, or 1.17 percent to end at 49,216.52 with shares of ITC, Bajaj Auto, M & M, Maruti, Bharti Airtel, ONGC, Bajaj Finance, Powergrid, HDFC were having gains of 3.25%, 2.46%, 1.03%, 0.72%, 0.60%, 0.55%, 0.24%, 0.23%, 0.11% respectively while shares of HCL Tech, Infosys, Dr. Reddy, TCS, Tech Mahindra, Reliance , NTPC, Kotak Bank, ICICI Bank were having loss of 3.97%, 3.67%, 3.34%, 2.44%, 2.36%, 2.22%, 1.97%, 1.96%,1.85% respectively .The Nifty closed at 14,557.85, down 163.45 points, or 1.11 percent with indexes like FMCG, Metal Indexes with having gains of 0.08%, 0.04% respectively whereas IT, Pharma, Energy, Realty, Bank, Auto, Media Indexes were the losers with having loss of 3.09%, 2.32%, 1.55%, 1.47%, 1.09%, 0.15%, 0.02% respectively.

TOP STOCKS IN NEWSCAST:

ITC Limited surged over 3% after the company clarified that news reports of the firm's demerger are speculative in nature.

Bajaj Auto gained over 2% after the company said that it would endeavour to arrive at a dividend pay-out as a percentage of profits after tax based on the company's standalone financials.

Bharti Airtel rose over half percent as Bharti Airtel has become the latest telecom operator to make upfront payment to the Department of Telecommunications (DoT) for the purchase made in the recently concluded spectrum auctions. Bharti Airtel continued to lead the pack with addition of 6.9 million active subscribers.