After four straight days of gains, investors on Dalal Street took profit off the table amid lingering concerns on the Covid front and roadblocks in the vaccination drive. A weak global market mood further exacerbated the fall with the selloff gathering steam in the late afternoon session as investors unwound positions ahead of the weekend. India for the ninth day reported cases over 3 lakh with the caseload nearing the 4 lakh mark. In the last 24 hours, the total fresh Covid cases stood at 3,86,693. Meanwhile, delay in vaccination amid shortages of jabs is hurting sentiment on the Street as investors banked on India s economy to revive amid a faster inoculation programme. States like Maharashtra, Karnataka and Delhi have flagged vaccine shortages.
Key indices traded in a narrow range with losses in early afternoon trade. Mixed global cues and soaring new Covid-19 cases in the country weighed on the sentiment.
At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 389.56 points or 0.78% at 49,376.75. The Nifty 50 index slipped 94.85 points or 0.64% at 14,800.95.
In broader market, the S&P BSE Mid-Cap index was up 0.2% while the S&P BSE Small-Cap index gained 0.51%.
The market breadth was positive. On the BSE, 1489 shares rose and 1220 shares fell. A total of 167 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 809.37 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 942.35 crore in the Indian equity market on 29 April, provisional data showed
NEW DELHI: Equity indices snapped four straight sessions of gains on Friday as losses in banking stocks weighed on the indexes. The benchmark BSE sensex plunged 984 points or 1.98 per cent to close at 48,782; while the broader NSE Nifty moved 264 points or 1.77 per cent lower to settle at 14,631.
Major laggards in the 30-share BSE pack included HDFC twins (HDFC and HDFC Bank), Kotak Mahindra Bank, ICICI Bank, Asian Paints, Mahindra & Mahindra with their stocks down as much as 3.99 per cent.
On the NSE platform, except for Nifty Pharma, all other sub-indices finished in red with Nifty Bank sliding as much as 2.77 per cent.
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Yoganand D
BL Research Bureau |
Updated on
April 29, 2021
Key supports are pegged at 14,880 and 14,850 levels
The domestic benchmark indices - the Sensex and the Nifty 50 commenced the session with a gap-up open but started to witness selling interest and declined. From the intraday low the benchmark indices recovered and have entered the positive territory. The Sensex and the Nifty 50 have climbed 0.2 per cent each now.
Among the Asian markets, the Hang Seng index has climbed 0.8 per cent to 29,303 levels and CSI 300 index has gained 0.97 per cent to 5,168 levels in today s session. The market breadth of the Nifty 50 is marginally biased towards advances.