The benchmark indices pared losses in afternoon trade as buying emerged at lower levels. At 13:20 IST, the barometer index, the S&P BSE Sensex, dropped 956.03 points or 1.91% at 49,073.80. The Nifty 50 index skid 264.05 points or 1.78% at 14,603.30. A spike in domestic coronavirus cases and fresh curbs imposed by the state government dented investors sentiment.
ICICI Bank (down 3.70%), HDFC (down 3.15%) and HDFC Bank (down 2.37%) were major drags.
Selling was broad based. The S&P BSE Mid-Cap index fell 1.40%. The S&P BSE Small-Cap index slipped 1.26%.
Sellers outnumbered buyers. On the BSE, 834 shares rose and 1,988 shares fell. A total of 186 shares were unchanged.
COVID-19 Update:
Information Technology stocks were trading in green, with the S&P BSE IT Sector index increasing 536.04 points or 2% at 27305.81 at 09:49 IST. Among the components of the S&P BSE IT Sector index, NIIT Ltd (up 16.81%), Happiest Minds Technologies Ltd (up 8.36%),3i Infotech Ltd (up 4.99%),Brightcom Group Ltd (up 4.91%),Tanla Platforms Ltd (up 4.24%), were the top gainers. Among the other gainers were Nucleus Software Exports Ltd (up 3.95%), Newgen Software Technologies Ltd (up 3.65%), Route Mobile Ltd (up 3.64%), Firstsource Solutions Ltd (up 2.75%), and Infosys Ltd (up 2.7%). On the other hand, Majesco Ltd (down 2.89%), Indiamart Intermesh Ltd (down 2.48%), and Cerebra Integrated Technologies Ltd (down 2.27%) turned lower.
SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 98 points at the opening bell.
Global markets:
Overseas, Asian stocks are trading higher on Thursday as US President Joe Biden announced a multi-trillion-dollar infrastructure investment plan.
A private survey released Thursday showed slowing growth of Chinese factory activity in March. The Caixin/Markit manufacturing Purchasing Managers Index (PMI) for March came in at 50.6, compared to February s reading of 50.9.
Japan s factory activity expanded at a faster pace in March. The final au Jibun Bank Japan Manufacturing Purchasing Managers Index (PMI) rose to a seasonally adjusted 52.7 in March from the previous month s 51.4 reading.
Godrej Properties Ltd has lost 9.23% over last one month compared to 6.86% fall in S&P BSE Realty Index index and 0.91% drop in the SENSEX
Godrej Properties Ltd fell 2.75% today to trade at Rs 1369.55. The S&P BSE Realty Index index is down 0.74% to quote at 2650.65. The index is down 6.86 % over last one month. Among the other constituents of the index, Mahindra Lifespace Developers Ltd decreased 1.28% and Phoenix Mills Ltd lost 0.98% on the day. The S&P BSE Realty Index index went up 100.39 % over last one year compared to the 76.33% surge in benchmark SENSEX.
Godrej Properties Ltd has lost 9.23% over last one month compared to 6.86% fall in S&P BSE Realty Index index and 0.91% drop in the SENSEX. On the BSE, 8593 shares were traded in the counter so far compared with average daily volumes of 38984 shares in the past one month. The stock hit a record high of Rs 1573.45 on 01 Mar 2021. The stock hit a 52-week low of Rs 575.1 on 19 May 2020.
Hindustan Aeronautics Ltd has lost 7.1% over last one month compared to 3.68% fall in S&P BSE Capital Goods index and 0.79% drop in the SENSEX
Hindustan Aeronautics Ltd gained 3.33% today to trade at Rs 1028. The S&P BSE Capital Goods index is up 1.2% to quote at 21349.1. The index is down 3.68 % over last one month. Among the other constituents of the index, Adani Green Energy Ltd increased 2.73% and V-Guard Industries Ltd added 2.38% on the day. The S&P BSE Capital Goods index went up 99.88 % over last one year compared to the 76.54% surge in benchmark SENSEX.
Hindustan Aeronautics Ltd has lost 7.1% over last one month compared to 3.68% fall in S&P BSE Capital Goods index and 0.79% drop in the SENSEX. On the BSE, 1475 shares were traded in the counter so far compared with average daily volumes of 68793 shares in the past one month. The stock hit a record high of Rs 1423.55 on 14 Aug 2020. The stock hit a 52-week low of Rs 490 on 12 May 2020.