Stock Market: On account of profit-booking after huge rally on the previous trade session, the Indian indices closed on the lower side after the intraday trade session. The BSE Sensex went down 173 points and closed at 29,893 levels while the NSE Nifty corrected 43 points and closed at 8,748 levels. Bank Nifty index went off 116 points and closed at 18,946 levels.
Speaking on the current stock market scenario Prakash Pandey, MD & CEO at Plutus Adisors said, “This dip in Indian share market is due to the profit-booking as the market had rose around 9 per cent yesterday. But, major trigger for the market is how US comes out of the coronavirus and how COVID-19 impacts the US society. Any further weakness in the US market may further trigger bearish trend in the global indices that includes Indian stock market as well.” Pandey advised traders to continue booking profit on every 6-7 per cent rise in Indian markets.
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Shares of SBI, Cadila Healthcare, Reliance Industries, Cipla, IndusInd Bank, Tata Motors, HDFC Bank, ITC, ICICI Bank and TCS were among the most trending stocks in the intraday trade session while shares of Axis Bank, Hindustan Unilever Limited or HUL, Bajaj Finance, Housing Development Finance and Maruti Suzuki mwere among the most active stocks in the intraday trade session.