Indian shares fell slightly on Monday as a surge in Covid-19 cases and fear of lockdown returning dented sentiment.
Weak global cues also weighed on markets as a plunge in the Turkish lira sparked talk that capital controls might be needed to stem the rout.
Banks, financials and auto stocks succumbed to heavy selling pressure, while healthcare, IT, and FMCG stocks received some buying support.
The benchmark 30-share BSE Sensex hit as low as 49,281.02 before ending off the day’s lows at 49,771.29, down 86.95 points, or 0.17 percent, from its previous close. The broader NSE Nifty index ended down 7.60 points, or 0.05 percent, at 14,736.40.
HDFC Bank, Tata Motors, ICICI Bank, Power Grid Corp and IndusInd Bank fell 2-4 percent in the Nifty pack, while Sun Pharma, Tech Mahindra, TCS, Britannia Industries and Adani Ports jumped 2-5 percent.
Godrej Properties surged 7.6 percent to snap a six-day losing streak after UBS initiated coverage on the stock.
Future Retail rallied 5.6 percent after a favorable development in the Amazon-Future Retail legal case.
Adani Green Energy shares climbed 5 percent after a subsidiary of the company received Letter of Award for a 300 MW wind project.
Cement makers rose sharply, with ACC rallying 6.3 percent on heavy volumes. Shares of Ambuja Cements advanced 4.8 percent.
Market Analysis
Sensex, Nifty End Modestly Lower
2021-03-22 11:02:09
