Sensex, Nifty Fall 1% Amid Selling Pressure In Consumer Goods Stocks

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Sensex, Nifty Fall 1% Amid Selling Pressure In Consumer Goods Stocks

The Nifty FMCG index slumped as much as 2.43% during the session


Domestic stock markets registered losses amid choppy trade on Thursday, dragged by selling pressure in consumer goods stocks, as the country remained in the third phase of a nationwide lockdown to curb the spread of the coronavirus (COVID-19) pandemic. The S&P BSE Sensex index fell as much as 1.02 per cent – or 322.79 points – to 31,362.96 in the first half of the session, and the broader NSE Nifty benchmark slid to as low as 9,175.90, having started the session nearly unchanged at 9,234.05 compared to its previous close of 9,270.90.

Here are 10 things to know about the markets today:

  1. At 11:59 am, the Sensex traded 166.15 points – or 0.52 per cent – lower at 31,519.60 while the Nifty was down 55.05 points – or 0.59 per cent – at 9,215.85.

  2. In the 50-scrip Nifty basket, 32 stocks traded lower at the time. Top percentage laggards were Bharat Petroleum, ONGC, Kotak Mahindra Bank, Titan and Wipro, trading between 2.30 per cent and 3.77 per cent lower.

  3. On the other hand, Bharti Infratel, Adani ports, IndusInd Bank, Tech Mahindra and Sun Pharma – up between 1.58 per cent and 6.18 per cent each – were the top Nifty gainers.

  4. Market breadth was largely neutral with a negative bias, as 960 stocks traded higher on the BSE against 1,017 that moved lower. On the NSE, 805 stocks advanced while 874 declined.

  5. COVID-19 cases in the country crossed the 50,000 mark in a steady rise despite a weeks-long lockdown that has sapped economic growth. The country has been under the world’s biggest lockdown since late March. 

  6. The coronavirus lockdown has put pressure on an already slowing economy as it shut factories and businesses, many of which reported zero revenues in April.

  7. The Nifty FMCG index – which comprises stocks of 15 fast-moving consumer goods makers – slumped as much as 2.43 per cent during Thursday’s session. In late morning deals, 11 out of the 15 components of the index moved lower, with Godrej Consumer Products (down 3.84 per cent), Britannia (2.53 per cent), Colgate Palmolive (2.45 per cent) and Dabur (2.36 per cent) being the worst hit.

  8. Yes Bank shares jumped as much as 20 per cent a day after the private sector lender reported a surprise profit of Rs 2,628.61 crore for the quarter ended March 31 as against a loss of Rs 1,506.64 crore for the corresponding period a year ago.

  9. Stocks across other Asian markets pared losses after data showed an unexpected rise in Chinese exports, stoking speculation China could recover from its coronavirus lockdown quicker than first thought, supporting global growth.

  10. MSCI’s broadest index of Asia Pacific shares outside Japan fell 0.28 per cent. China’s Shanghai Composite and Hong Kong’s Heng Seng indices declined 0.22 per cent and 0.62 per cent respectively, but Japan’s Nikkei 225 benchmark climbed up 0.28 per cent.

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