Stock markets on Monday ended the day in the red, reversing last week’s gains. While the BSE Sensex closed at 34,961.52, down by 0.6 per cent or over 200 points, the broader market NSE Nifty 50 ended the day at 10,312.40, also down by almost 0.6 per cent or over 70 points from the previous close on Friday.
In the 30 share BSE Sensex, only 9 stocks were trading in the green at the close while the remaining 21 were trading in the red. The top gainers on Monday at the time of closing were HDFC Bank, ITC, Kotak Mahindra Bank, Hindustan Unilever and Bharti Airtel. The top losers were Axis Bank, Tech Mahindra, SBI, Larsen & Toubro and ONGC.
Meanwhile, Britannia Industries, HDFC Bank, Cipla, Kotak Mahindra Bank and ITC were the top gainers on Nifty Fifty on Monday in the closing trade. The top losers were Coal India, Axis Bank, Tech Mahindra, Hindalco and SBI.
Among major indices, Nifty Auto was down by almost 0.6 per cent, Nifty Bank was down by over 1 per cent and Nifty IT was down by over 1.4 per cent.
On Friday, Sensex ended at 35,171.27, up by over 0.9 per cent while the Nifty 50 closed at 10,383, also up by 0.9 per cent. The Indian stock markets traded with a positive sentiment last week. Among the top performers, technology stocks gained sharply which helped the index settle at 10,300-mark on a weekly basis while the banking stocks traded with weaker sentiments in the last week.
Today, the rupee was trading at around 75.7375 against the USD at 3:45 pm.
Markets for stocks and other risky assets could suffer a second swoon if the coronavirus spreads more widely, lockdowns are reimposed or trade tensions surge again, the International Monetary Fund has warned. The warning came just a day after the IMF slashed its 2020 global economic forecasts further.
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A correction could be prompted by a deeper and longer recession than currently anticipated, a second wave of the virus or reinstated containment methods. A broadening of global social unrest in response to rising economic inequality could also damage investor sentiment, the IMF said.
Inputs from Reuters