Limited Period Offer:Be a PRO for 1 month @Rs49/-Multiple payment options available. Know More

Slideshow | Market ends lower amid rising COVID-19 cases; smallcaps outperform

Last week, rupee ended lower by 163 paise at 74.74 per dollar on April 9, against its March 31 closing of 73.11 per dollar.

April 11, 2021 / 09:57 AM IST
The market ended lower in the week ended April 9 amid high volatility on the back of mixed cues including rising bond yield, rising Covid cases in India and reports of vaccine supply crunch also added to the investors’ worries. Last week, BSE Sensex fell 438.51 points or 0.87 percent to finish at 49,591.32 and while the Nifty50 shed 32.45 points or 0.21 percent to close at 14,834.9 levels. RBI's monetary policy committee (MPC), as expected, left the repo rate unchanged at 4 percent and reverse repo rate at 3.35 percent. The central bank's assurance of continuing with the accommodative stance led to a sharp vertical up move on Dalal Street even as concerns grow over the more aggressive second coronavirus wave. MPC maintained its Gross Domestic Product (GDP) growth forecast at 10.5 percent for FY22. "Going ahead, the updates on COVID-19 cases, vaccination drive and state government actions would be key monitorable for the markets," said Ajit Mishra, VP - Research, Religare Broking. "Further, the earnings season starting next week would induce stock-specific volatility. Meanwhile, we suggest continuing with a cautious approach and avoid overleveraging," Mishra added.
The market ended lower in the week ended April 9 amid high volatility on the back of mixed cues including rising bond yield, RBI policy, rising Covid cases in India, and reports of vaccine supply crunch also added to the investors’ worries. Last week, BSE Sensex fell 438.51 points or 0.87 percent to finish at 49,591.32 and while the Nifty50 shed 32.45 points or 0.21 percent to close at 14,834.9 levels. RBI's monetary policy committee (MPC), as expected, left the repo rate unchanged at 4 percent and the reverse repo rate at 3.35 percent. The central bank's assurance of continuing with the accommodative stance led to a sharp vertical up move on Dalal Street even as concerns grow over the more aggressive second coronavirus wave. MPC maintained its Gross Domestic Product (GDP) growth forecast at 10.5 percent for FY22. "Going ahead, the updates on COVID-19 cases, vaccination drive, and state government actions would be key monitorable for the markets," said Ajit Mishra, VP - Research, Religare Broking. "Further, the earnings season starting next week would induce stock-specific volatility. Meanwhile, we suggest continuing with a cautious approach and avoid overleveraging," Mishra added.
BSE Small-cap index rose 2.5 percent with Aarti Surfactants, HEG, Orient Refractories, AXISCADES Technologies, National Peroxide, Vimta Labs, Cigniti Technologies, Panacea Biotec, Subex, Prince Pipes & Fittings, 63 Moons Technologies, Salasar Techno Engineering added over 20 percent each. However, losers were Can Fin Homes, Equitas Small Finance Bank, Mahanagar Telephone Nigam, Sundram Fasteners, CreditAccess Grameen and West Coast Paper Mills.
BSE Small-cap index rose 2.5 percent with Aarti Surfactants, HEG, Orient Refractories, AXISCADES Technologies, National Peroxide, Vimta Labs, Cigniti Technologies, Panacea Biotec, Subex, Prince Pipes & Fittings, 63 Moons Technologies, Salasar Techno Engineering added over 20 percent each. However, losers were Can Fin Homes, Equitas Small Finance Bank, Mahanagar Telephone Nigam, Sundram Fasteners, CreditAccess Grameen, and West Coast Paper Mills.
BSE Mid-cap Index added 1.2 percent led by the PI Industries, Steel Authority of India, Info Edge India, Jindal Steel & Power, Future Retail, JSW Energy, Oracle Financial Services Software and Glenmark Pharma, while United Breweries, AU Small Finance Bank, 3M India, Honeywell Automation, Mahindra & Mahindra Financial Services, Vodafone Idea and Amara Raja Batteries fell 5-10 percent,
BSE Mid-cap Index added 1.2 percent led by the PI Industries, Steel Authority of India, Info Edge India, Jindal Steel & Power, Future Retail, JSW Energy, Oracle Financial Services Software, and Glenmark Pharma, while United Breweries, AU Small Finance Bank, 3M India, Honeywell Automation, Mahindra & Mahindra Financial Services, Vodafone Idea, and Amara Raja Batteries fell 5-10 percent.
The BSE Large-cap Index ended flat. The gainers were JSW Steel, Cadila Healthcare, Adani Ports, Hindustan Zinc, Wipro and Cipla, while losers included Bajaj Finance, IndusInd Bank, Axis Bank, Power Grid Corporation of India and State Bank of India.
The BSE Large-cap Index ended flat. The gainers were JSW Steel, Cadila Healthcare, Adani Ports, Hindustan Zinc, Wipro, and Cipla, while losers included Bajaj Finance, IndusInd Bank, Axis Bank, Power Grid Corporation of India, and State Bank of India.
On the BSE Sensex, Tata Consultancy Services added (Rs 58,649.78 crore) the most in terms of market value, followed by Infosys (Rs 23,625.36 crore), Hindustan Unilever (Rs 17,974.19 crore) and Bharti Airtel (Rs 13,428.01 crore), while HDFC Bank (Rs -35,750.35 crore), Reliance Industries (Rs -25,168.11 crore) and Bajaj Finance (Rs -23,910.67) lost some of their market value. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.)
On the BSE Sensex, Tata Consultancy Services added (Rs 58,649.78 crore) the most in terms of market value, followed by Infosys (Rs 23,625.36 crore), Hindustan Unilever (Rs 17,974.19 crore) and Bharti Airtel (Rs 13,428.01 crore), while HDFC Bank (Rs -35,750.35 crore), Reliance Industries (Rs -25,168.11 crore) and Bajaj Finance (Rs -23,910.67) lost some of their market value. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.)
On the sectoral front, Nifty Metal Index surged 6.6 percent with JSW Steel, Hindustan Copper, SAIL, JSPL and Hindustan Zinc rose 10-22 percent, Nifty IT Index added 5.3 percent led by Info Edge India, Wipro, Coforeg and Mindtree and Nifty Pharma Index rose 5 percent led by the Cadila Healthcare, Cipla, Aurobindo Pharma and Lupin.
On the sectoral front, Nifty Metal Index surged 6.6 percent with JSW Steel, Hindustan Copper, SAIL, JSPL, and Hindustan Zinc rose 10-22 percent, Nifty IT Index added 5.3 percent led by Info Edge India, Wipro, Coforeg and Mindtree and Nifty Pharma Index rose 5 percent led by the Cadila Healthcare, Cipla, Aurobindo Pharma, and Lupin.
In the last week, the Indian rupee plunged against the US dollar. It ended lower by 163 paise at 74.74 per dollar on April 9, against its March 31 closing of 73.11 per dollar. "The week has been very volatile and rupee has depreciated nearly 2.5% on unprecedented bond buying plan by the RBI," said Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.
In the last week, the Indian rupee plunged against the US dollar. It ended lower by 163 paise at 74.74 per dollar on April 9, against its March 31 closing of 73.11 per dollar. "The week has been very volatile and the rupee has depreciated nearly 2.5% on the unprecedented bond-buying plan by the RBI," said Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.
Rakesh Patil
first published: Apr 10, 2021 08:42 am

stay updated

Get Daily News on your Browser
Sections