Stocks

Sensex ends 143 points lower amid concerns over economy

Our Bureau hennai | Updated on July 10, 2020 Published on July 10, 2020

 

Markets slumped on Friday on fresh sell-off in banking, FMCG, metals and energy sector stocks and amid worries that recent improvements in the economy may be set to stall as coronavirus cases continue to climb in India.

According to traders, domestic benchmarks followed negative trend in global equities as concerns over fresh spike in the number of Covid-19 cases and its impact on economic recovery weighed on investor sentiment. The rupees also traded weak against stronger US dollar on steady dollar offtake.

After opening weak at 36,555.13, the BSE benchmark Sensex moved up to an intraday high of 36,748.89, before settling lower by 143.36 points, or 0.39%, at 36,594.33.

The market breadth was negative on the BSE today. Out the 2,827 share traded, the advancing scrips were lesser at 1,003, and the number of decliners was at 1,663. Scrips that remained unchanged were at 167.

On the NSE, the Nifty too was down 45.40 points, or 0.42 per cent, to 10,768.05. The market breadth was negative here too. On the NSE, the decliners were higher at 36, while advancers were at 14.

Private sector bank Axis Bank was the top loser in the Sensex pack today, falling over 3 per cent, followed by IndusInd Bank, HDFC, Titan, ICICI Bank and HDFC Bank.

On the other hand key stocks that have registered gains and provided traction to the overall weak market were Reliance, Sun Pharma, Hindustan UniLever, Bharti Airtel and TCS.

Top sectoral losers are Nifty PSU and PVT Bank indices which have slumped 2.67 per cent and 2.38 per cent respectively.

Buying interest is seen in the Nifty Pharma and IT indices which have ended marginally higher.

PTI adds:

The number of cases around the world linked to the disease has crossed 1.22 crore and the death toll has topped 5.54 lakh.

In India, the number of infections spiked to 7.93 lakh and the death toll rose to 21,604.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with significant losses.

US stocks too ended on a tepid note in overnight session.

Meanwhile, international oil benchmark Brent crude futures fell 0.59 per cent to $42.10 per barrel.

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Published on July 10, 2020
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