Elsewhere in Asia, bouncers in Shanghai and Seoul were trading on a positive note in mid-season deals, while Hong Kong and Tokyo were in the red.
The equity benchmark Sensex jumped 300 points in early trade on Monday amid weak trend in global markets, leading to losses in the index Major Reliance Industries, HDFC Bank and ICICI Bank.
The 30-share BSE index was trading 305.33 points or 0.61% lower at 49,552.91, and the broader NSE Nifty fell 76 points or 0.52% to 14,668.
Powergrid topped the Sensex pack with 2%, followed by Reliance Industries, ICICI Bank, HDFC Bank and IndusInd Bank.
On the other hand, Sun Pharma, Dr. Reddy’s, Asian Paints and Infosys were among the beneficiaries.
The Sensex rose 641.72 points or 1.30% to 49,858.24 points in the previous session and the Nifty closed up 186.15 points or 1.28% at 14,744.
Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they bought shares worth ₹ 1,418.43 crore as per exchange data.
Geojit Financial Services chief investment strategist VK Vijayakumar said the market was in a highly volatile sector. The support comes from continued FII buying which has crossed F 7,000 crore during the last four business days.
“But, as the rapidly emerging COVID-19 cases, especially in some economically important cities, is a major damp. Restricted economic activity in these areas may affect optimistic growth projections for fiscal year 22, ”he said.
Elsewhere in Asia, bouncers in Shanghai and Seoul were trading on a positive note in mid-season deals, while Hong Kong and Tokyo were in the red.
Meanwhile, global oil benchmark Brent crude was trading 0.50% lower at $ 64.21 a barrel.
.
Leave a Reply