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Slideshow | Worries over 2nd Covid wave, weak global cues drag indices to crucial levels

In the last week, FIIs sold equities worth Rs 6,280.85 crore, while DIIs bought equities worth of Rs 4,596.64 crore.

March 27, 2021 / 08:23 AM IST
The market continued to remain under pressure in the week ended March 26 amidst weak global cues, while outbreak of second wave of covid in India, could impact the pace of economic recovery, added worries of the investors. Last week, BSE Sensex fell 849.74 points or 1.70 percent to end at 49,008.5 and while the Nifty50 declined 236.7 points or 1.6 percent to close at 14,507.3 levels. On BSE Sensex, Oil and Natural Gas Corporation, Power Grid Corporation of India, IndusInd Bank and Mahindra and Mahindra were among major losers, while gainers included Asian Paints, Dr Reddy’s Laboratories, Titan Company and Sun Pharmaceutical Industries. "The Nifty-50 Index lost 1.6% this week due to turmoil in global equity markets and the sharp rise in Covid-19 cases in India. The Nifty Small Cap 100 Index declined by 2.7% this week as expiry was weak and fiscal year end phenomenon could also be at play," said Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities. "Investors would like to take fresh view at the start of the next fiscal year," he feels.
The market continued to remain under pressure in the week ended March 26 amidst weak global cues, while outbreak of second wave of covid in India, which could impact the pace of economic recovery, added worries of the investors. Last week, BSE Sensex fell 849.74 points or 1.70 percent to end at 49,008.5 and while the Nifty50 declined 236.7 points or 1.6 percent to close at 14,507.3 levels. On BSE Sensex, Oil and Natural Gas Corporation, Power Grid Corporation of India, IndusInd Bank and Mahindra and Mahindra were among major losers, while gainers included Asian Paints, Dr Reddy’s Laboratories, Titan Company and Sun Pharmaceutical Industries. "The Nifty-50 Index lost 1.6% this week due to turmoil in global equity markets and the sharp rise in Covid-19 cases in India. The Nifty Small Cap 100 Index declined by 2.7% this week as expiry was weak and fiscal year end phenomenon could also be at play," said Rusmik Oza, Executive Vice President, Head of Fundamental Research at Kotak Securities. "Investors would like to take fresh view at the start of the next fiscal year," he feels. (Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.)
The BSE Large-cap Index fell 1.6 percent dragged by Indus Towers, Indian Oil Corporation, General Insurance Corporation of India, Oil and Natural Gas Corporation, Power Grid Corporation of India. However, Godrej Consumer Products, Tata Steel, Shree Cements, Ambuja Cements and Asian Paints remained among major gainers.
The BSE Large-cap Index fell 1.6 percent dragged by Indus Towers, Indian Oil Corporation, General Insurance Corporation of India, Oil and Natural Gas Corporation, Power Grid Corporation of India. However, Godrej Consumer Products, Tata Steel, Shree Cements, Ambuja Cements and Asian Paints remained among major gainers.
BSE Small-cap index shed 1 percent with Future Lifestyle Fashions, Edelweiss Financial Services, UCO Bank, Dixon Technologies, Asian Granito India, Brightcom Group, Hathway Cable, Future Supply Chain Solutions, SREI Infrastructure Finance fell 12-16 percent, while Privi Speciality Chemicals, Adani Total Gas, Hinduja Global Solutions, Jaiprakash Power Ventures and Dolat Investments rose 19-38 percent.
BSE Small-cap index shed 1 percent with Future Lifestyle Fashions, Edelweiss Financial Services, UCO Bank, Dixon Technologies, Asian Granito India, Brightcom Group, Hathway Cable, Future Supply Chain Solutions, SREI Infrastructure Finance fell 12-16 percent, while Privi Speciality Chemicals, Adani Total Gas, Hinduja Global Solutions, Jaiprakash Power Ventures and Dolat Investments rose 19-38 percent.
BSE Mid-cap Index was down 0.3 percent with Future Retail, REC, Zee Entertainment Enterprises, RBL Bank, New India Assurance Company, Power Finance Corporation shed 7-15 percent, while Adani Transmission, Adani Enterprises, Kansai Nerolac Paints, ACC and Honeywell Automation rose 6-13 percent.
BSE Mid-cap Index was down 0.3 percent with Future Retail, REC, Zee Entertainment Enterprises, RBL Bank, New India Assurance Company, Power Finance Corporation shed 7-15 percent, while Adani Transmission, Adani Enterprises, Kansai Nerolac Paints, ACC and Honeywell Automation rose 6-13 percent.
On the BSE Sensex, Reliance Industries lost (Rs 56,491.29 crore) the most in terms of market value, followed by Bajaj Finance (Rs -16,197.55 crore), ITC (Rs 15,016.79 crore) and SBI (Rs 12,494.45 crore), while Asian Paints (Rs 9030.84 crore), Titan Company (Rs 3,409.1 crore) and Dr Reddy’s Laboratories (Rs 2,174.39) added 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, Reliance Industries lost (Rs 56,491.29 crore) the most in terms of market value, followed by Bajaj Finance (Rs 16,197.55 crore), ITC (Rs 15,016.79 crore) and SBI (Rs 12,494.45 crore), while Asian Paints (Rs 9030.84 crore), Titan Company (Rs 3,409.1 crore) and Dr Reddy’s Laboratories (Rs 2,174.39) added 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 Media Index shed 6.6 percent dragged by the Hathway Cable, PVR, Zee Entertainment Enterprises and INOX Leisure, Nifty Auto Index slipped 4 percent dragged by the Mahindra and Mahindra, Motherson Sumi Systems, Hero MotoCorp and Bosch and Nifty Energy Index fell 4 percent dragged by the Indian Oil Corporation, Oil and Natural Gas Corporation, Power Grid Corporation of India. On the other hand Nifty Pharma Index added nearly 2 percent supported by the by the Cipla, Aurobindo Pharma, Dr Reddy’s Laboratories and Divis Laboratories. On the BSE, S&P BSE Auto index slipped 4 percent, S&P BSE Oil & gas fell 3.7 percent, while S&P BSE Healthcare added 1 percent.
On the sectoral front, Nifty Media Index shed 6.6 percent dragged by the Hathway Cable, PVR, Zee Entertainment Enterprises and INOX Leisure, Nifty Auto Index slipped 4 percent dragged by the Mahindra and Mahindra, Motherson Sumi Systems, Hero MotoCorp and Bosch and Nifty Energy Index fell 4 percent dragged by the Indian Oil Corporation, Oil and Natural Gas Corporation, Power Grid Corporation of India. On the other hand Nifty Pharma Index added nearly 2 percent supported by the by the Cipla, Aurobindo Pharma, Dr Reddy’s Laboratories and Divis Laboratories. On the BSE, S&P BSE Auto index slipped 4 percent, S&P BSE Oil & gas fell 3.7 percent, while S&P BSE Healthcare added 1 percent.
In the last week, foreign institutional investors (FIIs) sold equities worth Rs 6,280.85 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 4,596.64 crore. In the month of March till now the FIIs bought the equities worth Rs 2,161.66 crore and DIIs purchased equities worth Rs 941.89 crore.
In the last week, foreign institutional investors (FIIs) sold equities worth Rs 6,280.85 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 4,596.64 crore. In the month of March till now the FIIs bought the equities worth Rs 2,161.66 crore and DIIs purchased equities worth Rs 941.89 crore.
In the last week, the Indian rupee ended flat at 72.51 per dollar on March 26, against its March 19 closing of 72.51 per dollar. "Next week is a truncated week with currency holidays, so we can expect market participation to be muted. At this point fx market is trying to get some more global news that will be the next catalyst. So, unless any nation stops the vaccine rollout, the rapid vaccination drive by the US will keep the risk appetite higher," said Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services. "However, lockdown in Europe and upbeat US data will limit any fall in USDINR spot. Thus we expect the spot to trade within 72.20-72.80," he added.
In the last week, the Indian rupee ended flat at 72.51 per dollar on March 26, against its March 19 closing of 72.51 per dollar. "Next week is a truncated week with currency holidays, so we can expect market participation to be muted. At this point fx market is trying to get some more global news that will be the next catalyst. So, unless any nation stops the vaccine rollout, the rapid vaccination drive by the US will keep the risk appetite higher," said Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services. "However, lockdown in Europe and upbeat US data will limit any fall in USDINR spot. Thus we expect the spot to trade within 72.20-72.80," he added.
Rakesh Patil
first published: Mar 27, 2021 08:23 am

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