The Nifty PSU Bank and Bank indices shed 0.8 per cent and 0.6 per cent, respectively today while the Nifty Private Bank and Financial Services indices slipped 0.6 per cent and 0.3 per cent
The broader markets, however, braved the volatility and settled higher. The S&P BSE MidCap and SmallCap indices added 1 per cent and 0.8 per cent, respectively by close.
The selling in the market was mostly broad-based, with only stocks from the information technology (IT) sector managing to hold their head above water
The overall market breadth was in the ratio of 1:3 in the favour of advances
Formerly, known as Tata Global Beverages, Tata Consumer is currently undergoing a transformation to become a multi-category FMCG company from a food and beverage (F&B) company
The Sensex index settled above the 50,000-mark for the first time since March 23
Metals and mining, cement, infrastructure, industrials etc. are expected to perform well in March quarter earnings, Kumar said
The Nifty Next 50 index, which comprises the top firms outside the Nifty50, is tracked by funds with assets of $500 million
This was the indices' biggest 1-year drop in a monthly series
Weightage-wise, Reliance Industries, ICICI Bank, HDFC Bank, HDFC, Infosys, Axis Bank, ITC, and SBI were responsible for 600 points cut in the Sensex
Sectorally, the Nifty PSU Bank index emerged as the winner with 3 per cent gains by close. The other two banking indices too settled 1.7 per cent higher each
IndusInd Bank, Power Grid, ICICI Bank, Tata Motors, HDFC Bank, Reliance Industries, and Axis Bank, down up to 4 per cent, were the top laggards on both the benchmarks
Mood on D Street changed after Moody's Analytics said India's economy is likely to grow by 12 per cent in CY2021 following a 7.1 per cent contraction last year
HCL Tech, Infosys, Dr Reddy's Labs, NTPC, TCS, Reliance Industries, and Tech Mahindra, all down between 2 per cent and 3.5 per cent, were the top losers on the Sensex
All the sectoral indices ended the day in the red with the Nifty Realty, Metal, and PSU Bank indices dropping up to 3 per cent
Broader markets, meanwhile, remained better placed. The S&P BSE MidCap and SmallCap indices each ended around 0.4 per cent higher
Reliance Industries, HDFC Bank, ICICI Bank, HDFC, Bajaj Finance, L&T, Axis Bank, Infosys, and Asian Paints, down between 0.6 per cent and 3 per cent, dragged the indices lower today
Large-cap PMS schemes (average returns of 4.9 %), mid-cap (9.8%), multi cap (7.1%), and small-cap (8.9%) - all underperformed their respective category benchmark indices
Sectorally, all the NSE indices were painted red with the Nifty Auto and PSU Bank indices down around 2 per cent each
Among sectoral indices, the Nifty Metal index remained the star performer today, closing 1.8 per cent higher, followed closely by the Nifty IT index (up 1.6 per cent).