May 03, 2021, 10:21 AM IST
New Delhi: Mounting COVID-19 cases continued to spook domestic investors on Monday, with equity indices opening in the red tracking selloff in financial stocks amid a negative trend in Asian equities.
The 30-share BSE index sank 403.45 points or 0.83 percent to 48,378.91 in early trade. Similarly, the broader NSE Nifty tanked 97.05 points or 0.66 percent to 14,534.05.
Major losers in the Sensex pack were Titan, SBI, RIL, ICICI Bank, Axis Bank, ONGC, HDFC Bank, Bajaj Finserve, Bharti Airtel, Ultrachem, Kotak Bank and HDFC, falling upto 3.62 percent.
On the other hand, major gainers were Maruti, Bajaj Auto, HUL, Nestle, Powergrid, IndusInd Bank, M&M, Sun Pharma, Asian Paint, HCL Tech, TCS, and DrReddy, rising upto 1.83 percent.
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Nifty opened gap down on Monday, but managed to hold the 14,400 level and slowly recovered most of its intra-day losses to close the day on a flat note.
Technically, it formed a Bullish Candle on the daily timeframe chart, as it closed above the opening level, and reclaimed its 50-day EMA. Now, it has to hold the 14,600 level to witness a bounce towards 14,800 and 14,880 levels, while on the downside support exists at 14,500 and 14,400 levels.
India VIX moved up 2.88% from 23.02 to 23.69 levels. India VIX needs to hold below 20 level to again create a bullish stance.
Since it is the beginning of a new series, options data lay scattered at different strike prices. On the options front, maximum Put Open Interest stood at 14,000 level followed by 13,500 while maximum Call OI was seen at 15,000 level followed by 15,500. Options data suggested a wider trading range between 14,200 and 15,200 levels.
Any colour, one price, says JSW Paints; takes cheeky jab at Nerolac, Asian Paints
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The paints marketer makes the case for transparent pricing by upending the industry standard of variable prices across colours. People donât necessarily scrutinise the cost of each shade while painting their homes. Itâs a small thing which gets hidden, and weâre bringing attention to it, says Govind Pandey, TBWA Indiaâs CEO.
Pandey was talking to us (afaqs!) about his agencyâs latest work for JSW Paints. It focused on the brandâs âany colour, one costâ philosophy, while gently ribbing category leaders Kansai Nerolac and Asian Paints on âthe fact that they havenât talked about the price.â
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Nifty on Friday opened positive and headed towards the 14,700 level in the first hour of trade. However, the index failed to hold the gains and saw a decline towards 14,600 level in last hour of trade amid profit taking. The index lost most of its intra-day’s gains and closed the session with a marginal gain of 36 points.
It formed a Doji candle on the daily scale and a Hammer on the weekly scale, which indicate that every decline is getting bought into. However, followup buying was missing at higher zones. Now, the index has to hold above 14,500 level for a bounce towards 14,700 and 14,850 levels, while support on the downside exists at 14,350 and 14,250 levels.
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The companyâs new spot touts its affordable âAce Sparc Emulsionâ paint.
Jealousy is a human emotion that everyone feels from time to time. But when you see your junior from school, college, or work do better than you, the fury that builds inside you is indescribable.
Asian Paints, the leading Indian multinational paints company, has tried to evoke this feeling in an ad for its âAce Sparc Emulsionâ â a budget-friendly line of paints.
The 22-second spot features an older couple (Vermas) stare at a home. Mrs Verma complains to her husband about how Mr Sharma, his junior, has âdecked his home like a new bride.â Her eyes then land on Mrs Sharma whoâs all decked up.