Indian markets had a volatile day today with the BSE SENSEX falling almost 1,000 points before metal stocks helped a pullback. However, it wasn’t enough as NIFTY ended down 0.67% (101.45 points) and Sensex ended down 0.78% (397 points).
With the US Treasury bond yields at a 13-month peak and rising COVID-19 cases in India, it seemed like investors didn’t have confidence in Indian markets today. The rising cases have led to another round of lockdowns in several regions in India that is causing business disruptions again.
Major NSE losers were Divi's Laboratories Ltd. down 2.91%, and Bajaj Finserv Ltd, down 2.71%. GAIL Ltd, Bajaj Finance Ltd and Hero MotoCorp Ltd lost 2.55%, 2.48% and 2.43% respectively. JSW Steel Ltd gained 2.44% today followed by Tech Mahindra Ltd at 2.37%. Tata Steel Ltd and Hindalco Industries Ltd. lost 2.26% and 1.65% respectively.
BANKNIFTY bore the brunt of the damage in the first half of the trading session and was down over 1,000 points before recovering to close in the red by 314 points or 0.88%.
Asian stocks ended mixed with NIKKEI 225 up 0.17% and KOSPI 50 and the SHANGHAI COMPOSITE falling 0.28% and 0.96% respectively.
Europe has opened positive on recovery hopes led by the vaccine with FTSE 100 up 0.33%, CAC 40 up 0.32% and DAX up 0.21%. US futures are trading positive with DOW JONES 30 FUTURES, S&P 500 FUTURES and NASDAQ 100 FUTURES up 0.37%, 0.2% and 0.18% respectively.
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