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Indian market loses over 2% ahead of US Presidential Election

On the sectoral front, Nifty PSU Bank Index fell the most dropping more than 4.5 percent followed by Nifty Auto (down 4 percent), Nifty Metal (down 4 percent). Meanwhile, the Nifty Energy index ended up 0.5 percent.
Oct 31, 2020 / 09:26 AM IST
Slideshow | Market loses over 2% amid weak global cues; rupee down 51 paise
The Indian market remained under pressure throughout the week and lost over 2 percent amid weak global cues. The upcoming US Presidential Election, rising COVID-19 cases Europe and the US and lack of fiscal stimulus kept the investors on the edge. F&O expiry and earnings from India Inc also spurred volatility during the week
Last week, BSE Sensex shed 1,071.43 points or 2.6 percent to close at 39,614.07, while the Nifty50 lost 287.95 points or 2.41 percent to end at 11,642.40 levels.
This week, BSE Sensex shed 1,071.43 points or 2.6 percent to close at 39,614.07, while the Nifty50 lost 287.95 points or 2.41 percent to end at 11,642.40 levels.
BSE Small-cap index shed 1.6 percent. GE Power India, Sonata Software, Himatsingka Seide, Globus Spirits, Indiabulls Integrated Services, Jaiprakash Power Ventures, Indo Count Industries fell more than 12 percent, while HBL Power Systems, Carborundum Universal, OnMobile Global, Gati, Blue Dart Express and Gufic Biosciences rose more than 13 percent.
BSE Smallcap index shed 1.6 percent. GE Power India, Sonata Software, Himatsingka Seide, Globus Spirits, Indiabulls Integrated Services, Jaiprakash Power Ventures, Indo Count Industries fell more than 12 percent. On the other hand, HBL Power Systems, Carborundum Universal, OnMobile Global, Gati, Blue Dart Express and Gufic Biosciences rose more than 13 percent.
BSE Mid-cap Index was down 0.48 percent. Federal Bank, M&M Financial Services, Bharat Forge and Future Retail were among major losers, while gainers were Adani Green Energy, Cholamandalam Investment, Adani Enterprises and CRISIL.
BSE Midcap index was down 0.48 percent. Federal Bank, M&M Financial Services, Bharat Forge and Future Retail were among major losers, while gainers included Adani Green Energy, Cholamandalam Investment, Adani Enterprises and CRISIL.
The BSE Large-cap Index fell 2.4 percent dragged by the Hindustan Zinc, Hero Motocorp, Vedanta, Lupin and DLF, while gainers were Kotak Mahindra Bank, Nestle India, Avenue Supermarts, Shree Cements and Ambuja Cements.
The BSE Largecap index fell 2.4 percent dragged by the Hindustan Zinc, Hero Motocorp, Vedanta, Lupin and DLF, while support came from Kotak Mahindra Bank, Nestle India, Avenue Supermarts, Shree Cements and Ambuja Cements.
On the BSE Sensex, Kotak Mahindra Bank added the most in terms of market value, followed by Nestle and Asian Paints, while Reliance Industries, HDFC Bank and Infosys lost most of their market value. Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media.
On BSE Sensex, Kotak Mahindra Bank added the most in terms of market value, followed by Nestle and Asian Paints, while Reliance Industries, HDFC Bank and Infosys lost the most in terms of market valuation. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media.)
On the sectoral front, Nifty PSU Bank Index underperformed other indices with a loss of over 4.5 percent followed by Nifty Auto (down 4%), Nifty Metal (down 4%), while Nifty Energy Index up 0.5 percent.
On the sectoral front, Nifty PSU Bank Index fell the most dropping more than 4.5 percent followed by Nifty Auto (down 4 percent), Nifty Metal (down 4 percent). Meanwhile, Nifty Energy index ended up 0.5 percent.
In the last week, foreign institutional investors (FIIs) bought equities worth Rs 972.66 crore, while domestic institutional investors (DIIs) sold equities worth of Rs 2,170.78 crore. However, in the month of October FIIs bought equities worth of 14,537.40 crore and DIIs sold equities worth Rs 17,318.44 crore.
During the week, foreign institutional investors (FIIs) bought equities worth Rs 972.66 crore, while domestic institutional investors (DIIs) sold equities worth of Rs 2,170.78 crore. However, in October FIIs bought equities worth of 14,537.40 crore and DIIs sold equities worth Rs 17,318.44 crore.
On Weekly basis, the Indian rupee lost 51 paise against the US dollar. It closed at 74.11 per dollar on October 29, against its October 23 closing of 73.60 per dollar.
On the weekly basis, the Indian rupee lost 51 paise against the US dollar. It closed at 74.11 per dollar on October 29, against its October 23 closing of 73.60 per dollar.
Rakesh Patil
first published: Oct 31, 2020 09:26 am

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