Stock Market Updates: Analysts say some more correction cannot be ruled out in the near term.


Domestic stock markets rose around 1 per cent in a volatile session on Tuesday, gaining some ground a day after the news of fresh lockdowns in the UK to curb the spread of a new strain of coronavirus spooked investors. The S&P BSE Sensex index jumped more than 450 points to touch 46,023.52 at the strongest level of the day, and the broader NSE Nifty 50 benchmark added more than 100 points to as high as 13,466.55. Gains in IT, pharmaceutical and energy shares aided the bounce-back in the markets.

Here are 10 things to know about the markets today:

  1. The Sensex ended 452.73 points, or 0.99 per cent, higher at 46,006.69 and the Nifty settled at 13,466.30, up 137.9 points, or 1.03 per cent, from its previous close.

  2. HCL Technologies, Adani Ports, Tech Mahindra, Infosys, Sun Pharmaceutical, Wipro, Divi’s Laboratories and JSW Steel, trading between 2.09 per cent and 4.12 per cent, jumped the most among 35 gainers in the Nifty basket of 50 shares. 

  3. On the other hand, Tata Motors, Hindalco, Bajaj Finance, Reliance Industries and IndusInd Bank, down 0.58-1.15 per cent each, were the top Nifty losers. 

  4. Infosys, Tata Consultancy Services and HCL Tech were the biggest boosts for Sensex, whereas Reliance Industries and Kotak Mahindra Bank were the largest drags.  (Also Read: Stocks To Watch)

  5. Airline stocks extended losses for a second straight day after the government announced suspension of all flights from the UK to the country until the end of the year following the discovery of a new strain of COVID-19.

  6. The NSE’s India VIX index, which gauges the expectation of volatility in the near term, rose as much as 3.10 per cent during the session. Overall market breadth was extremely negative, with an advance-decline ratio of nearly 1:6 on the BSE. A total of 341 shares rose on the bourse against 1,922 that succumbed to losses. 

  7. However, both indices are still up more than 2 per cent so far this month, boosted by record inflows from foreign institutional investors (FIIs), progress on COVID-19 vaccines globally and signs of a domestic economic recovery.

  8. Countries across the globe shut their borders to Britain on Monday due to fears about a new strain of coronavirus, said to be up to 70 per cent more transmissible than the original, causing travel chaos and raising the prospect of food shortages days before Britain is set to leave the European Union.

  9. European stocks steadied on Tuesday, after heavy losses a day earlier sparked by fears over a highly infectious new strain of COVID-19, as Washington approved an $892-billion pandemic relief package.

  10. The discovery of the new strain, just months before vaccines are expected to be widely available, renewed fears about the virus, which killed about 1.7 million people worldwide. As a result European shares fell on Monday in their worst session in almost two months.

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