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Stock Market Highlights: The Benchmark Indices Ended Deep In Red Amid Lockdown Fear


Stock Market Highlights: The Benchmark Indices Ended Deep In Red Amid Lockdown Fear
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The benchmark indices close near day’s low due to concerns related to rising COVID-19 cases and the fear of lockdown. Auto and financial stocks dragged the index.

At close, the BSE Sensex was down 1707.94 points or 3.44 per cent at 47,883.38 and the Nifty was down 524.10 points or 3.53 per cent at 14,310.

About 493 shares have advanced, 2433 shares declined and 171 shares remain unchanged.

On the Nifty 50 index, Dr. Reddys Labs (4.97 per cent), Cipla (2.19 per cent), Divis Labs (0.73 per cent) and Britannia (0.40 per cent) were the top and only gainers for the day, while Tata Motors (-9.95 per cent), Adani Ports (-9.59 per cent), IndusInd Bank (-8.58 per cent), Bajaj Finance (-7.42 per cent) and UPL (-7.14 per cent) were the top losers for the day.

On the sectoral front, all the sectoral indices ended deep in red with losses ranging from 2 per cent to 9 per cent.

The BSE Midcap and Smallcap indices lost 5.32 per cent and 4.81 per cent respectively.

Author’s View: The market witnessed a strong downward trend and decisively broke down below its support level. A recovery above 14,500 is important to change the short term bearish outlook, while sustenance below this level can open gates for 14000 – 14050 zone.   

Disclaimer:  The view/s expressed above are only for educational/awareness purpose. Mumbailive.com or the author of the post bears no liability for any losses suffered by following any advice posted on the website. You are solely responsible for making your own investment decisions.

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