- by Soumili Roy
- 22nd Sep 2020
Nifty Beneath 11,300 Dragged by IndusInd Bank, Tata Motors; Sensex Plunges 800 Points.
On Monday, 21 September 2020, Following frail global cues, just as rising apprehensions of a second flood of COVID-19 related cases that could prompt further closure over the globe hurt investor notion on Monday and prompted profit-taking at more elevated levels.
The S&P BSE Sensex plunged in excess of 800 points while the Nifty50 neglected to clutch 11,300 levels; however took help close to 11,250.
Sector-wise performance
If you talk about sector-wise performance, sectors like telecom, realty, metals, auto, and healthcare space profit-taking was seen.
The ultimate tally on D-Street – the S&P BSE Sensex was low 811 points to 38034 alongside the Nifty50 plunged 254 points to close at 11250 levels.
TCS, Infosys, and Kotak Mahindra Bank.were among the top Nifty gainers.
JSW Steel, Hindalco, Tata Motors, and IndusInd Bank were among the top Nifty losers.
Stocks of the day
If talking about the stock sector-wise, the selling strain was witnessed in the S&P BSE Telecom index which was low 5.7 percent, mainly followed by the S&P BSE Realty index that tumbled 5.7 percent, and the S&P BSE Metal index plunged 4.7 percent.
Sector wise, Profit-taking was mainly witnessed in the telecom, realty, metals, auto, and healthcare space.
A volume spike of more than 100 percent was visible in stocks which are Adani Enterprises, BHEL, Escorts, and Indiabulls Housing Finance
The stocks like NMDC, Havells India, and LIC Housing Finance showed Long buildup.
The stocks like Indiabulls Housing Finance, RBL Bank, and Bharti Infratel showed a Short buildup.
More than 140 stocks on the BSE including Bayer Cropsciences, Dr. Reddy’s Laboratories, Apollo Hospitals and VST Tillers hit a fresh 52-week high.
Commodity market
Nickel costs descended to Rs 1,082 for each kg on September 21 as members expanded their short situation as observed by the open interest.
Gold costs plunged Rs 279 to Rs 51,341 for each 10 gram in the Mumbai market on rupee appreciation against the dollar and powerless and fragile global cues. The valuable metal costs slipped as the dollar bounced back in place of refuge purchasing in front of Federal Reserve Chairman Jerome Powell's discourse in the not so distant future.
The yellow metal had picked up Rs 179, or 0.35 percent, a week ago in the domestic retail market.
Copper costs edged lower to Rs 533.75 per kg on September 21 as members expanded their short situation as observed by the open interest. Base metals kept down additions by virtue of uptick in the dollar.
The US dollar file, estimated against a crate of six monetary forms, increased 0.37 percent to 98.
Crude Oil prospects diminished to Rs 2,939 for every barrel on September 21 as members expanded their short positions. Costs fell following the worldwide auction in equities on fears of new checks being forced to stem increasing novel Covid, or COVID-19, cases.
