The Indian equity market has been jilted by the outbreak of the coronavirus in China spooking investors fearing that the virus outbreak may derail the pace of economic growth.
The market sentiment is nervous with Sensex down 221.90 points or 0.54 percent at 40976.76 while the Nifty shed 66.50 points at 12063.
All sectoral indices are trading in the red led by the pharma, IT and the banking index.
The BSE healthcare index shed the most dragged by Aurobindo Pharma which shed close to 5 percent after that the US drug regulator classified the inspection of the company’s oral solids formulation manufacturing facility of Unit VII as Official Action Indicated (OAI).
The other losers included Dishman Carboge, Eris Lifesciences, Glenmark Pharma, Granules India, Indoco Remedies, Laurus Labs, Lincoln Pharma, Sun Pharma and Piramal Enterprises.
BSE IT was down a percent dragged by Aptech, D-Link India, eClerx Services, Infosys, Kellton Tech, L&T Technology, Mphasis, NIIT Tech, NIIT and Ramco System.
The top losers from the banking space included YES Bank, RBL Bank, IDFC First Bank, IndusInd Bank, Kotak Mahindra Bank, State Bank of India, Bank of Baroda and Punjab National Bank.
India VIX is up 0.73 percent and is trading at 16.62 level.
The top gainers from the Nifty were Eicher Motors, Bharti Infratel, NTPC, Power Grid and UPL while the top losers included YES Bank, Sun Pharma, Zee Entertainment, Tech Mahindra and Bajaj Finserv.
The most active stocks were Bajaj Finance, Escorts, Tata Motors, Reliance Industries and Aurobindo Pharma.
37 stocks have hit new 52-week high on NSE including Tata Investment, Avenue Supermarts, KNR Construction, Pidilite Industries and Coromandel International.
32 stocks hit new 52-week low on NSE including Karur Vysya Bank, Cox & Kings, Kridhan Infra, Reliance Power, Kesoram Industries, Future Supply Chain Solutions and Sintex Plastics Technology.
About 645 shares have advanced, 1379 shares declined, and 113 shares are unchanged.
Technical analyst Ashwani Gujral of ashwanigujral.com has a buy on Bajaj Finance with a stop loss of Rs 4380, target of Rs 4500 while Sudarshan Sukhani of s2analytics.com has a sell on Eicher Motors with stop loss at Rs 20450 and target of Rs 19800.
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