Daily Market Commentary - April 6, 2021 - Bonanza Portfolio
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Mr Vishal Wagh, Research Head
On Tuesday Indian equity benchmark indices were trading higher tracking mixed global cues. Markets are trading higher with gains of around half a per cent each in early deals on the back of buying in Power, Utilities and Metal stocks. In the afternoon session, Indian equity benchmarks traded flat. Both Sensex and Nifty are trading around 49,150 and 14,667 levels.
Most of the Asian equity benchmarks traded lower in early deals on Tuesday, as the soaring new covid infection numbers and extended lockdown restrictions dulled the market sentiments.
Financials stocks were trading with losses, with the S&P BSE Finance index decreasing 235.04 points or 3.15% at 7220.35 at 13:49 IST. Among the components of the S&P BSE Finance index, Indiabulls Housing Finance Ltd (down 5.69%), Can Fin Homes Ltd (down 5.53%),Bajaj Finance Ltd (down 5.43%),Canara Bank (down 5.41%),IndusInd Bank Ltd (down 5.33%), were the top losers. Among the other losers were Tourism Finance Corporation of India Ltd (down 5.17%), IFCI Ltd (down 4.99%), Equitas Small Finance Bank Ltd (down 4.68%), Bajaj Finserv Ltd (down 4.56%), and State Bank of India (down 4.47%). On the other hand, Satin Creditcare Network Ltd (up 3.39%), Magma Fincorp Ltd (up 3.25%), and Religare Enterprises Ltd (up 2.63%) turned up.
IndusInd Bank Ltd has lost 7.48% over last one month compared to 5.61% fall in S&P BSE BANKEX index and 1.56% drop in the SENSEX
IndusInd Bank Ltd fell 3.16% today to trade at Rs 962. The S&P BSE BANKEX index is down 2.03% to quote at 37464.35. The index is down 5.61 % over last one month. Among the other constituents of the index, Federal Bank Ltd decreased 2.47% and Axis Bank Ltd lost 2.4% on the day. The S&P BSE BANKEX index went up 89.66 % over last one year compared to the 79.84% surge in benchmark SENSEX.
IndusInd Bank Ltd has lost 7.48% over last one month compared to 5.61% fall in S&P BSE BANKEX index and 1.56% drop in the SENSEX. On the BSE, 66037 shares were traded in the counter so far compared with average daily volumes of 3.32 lakh shares in the past one month. The stock hit a record high of Rs 1119.2 on 25 Feb 2021. The stock hit a 52-week low of Rs 310.4 on 03 Apr 2020.
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Share Market LIVE Updates: Sensex plunges 1,300 pts, Nifty below 14,500; Bajaj twins, IndusInd Bank top losers
Stock Market News Update Today: Out of 30 BSE Sensex pack, 27 stocks were trading in red, barring Infosys, HCL Tech and TCS, with Bajaj Finance, Bajaj Finserv, IndusInd Bank, SBI, M&M falling between 4-5 per cent
BusinessToday.In | April 5, 2021 | Updated 13:32 IST
Share Market Live News: Sensex, Nifty stay under stress
Extending opening losses, Indian benchmark indices fell sharply in early trade on Monday as rising COVID-19 cases and increased restrictions spooked investors sentiments. The BSE Sensex was trading 1,368 points, or 2.73 per cent lower at 48,661, while the NSE Nifty 50 was quoting at 14,529, down 337 points or 2.27 per cent. IndusInd Bank, Bajaj Finance, Bajaj Auto, State Bank of India, Axis Bank were among top losers, falling between 2-3 per cent. On the other hand, Infosys, HCL Technologies, Tata Consultancy Services were only gainers on BSE Sen