Sensex slips nearly 400 points in opening deals, Nifty below 9,200 mark on Asian cues
The benchmark equity indices on the BSE and National Stock Exchange (NSE) opened over 1 per cent lower on Tuesday taking cues from their broader Asian peers which slipped on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.
At 9:15 am, the S&P BSE Sensex was down 393.59 points (1.25 per cent) at 31,167.63, while the Nifty 50 was at 9,134.55, down 104.65 points (1.13 per cent).
On the Sensex, Asian Paints, HDFC Bank, Maruti Suzuki India, Hindustan Unilever (HUL), Housing Development Finance Corporation (HDFC) and Kotak Mahindra Bank were the top drags in the early trade. On the other hand, NTPC, Sun Pharmaceutical Industries, Tech Mahindra, ITC, Ultratech Cement and Nestle India were the top gainers. (see heatmap below)
Sensex stocks at 9:26 am. (Source: BSE)
All the sectoral indices on the NSE except Nifty pharma index were trading in the red. The key Nifty Bank index was down over 2 per cent weighed by RBL Bank, HDFC Bank and Bank of Baroda. Likewise, the Nifty Financial Services index too slipped over 2 per cent dragged by Shriram Transport Finance Company, Cholamandalam Investment and Finance Company and Edelweiss Financial Services. The Nifty Auto index too was down over 1 per cent driven by Maruti and TVS Motor Company.
Here’s how the sectoral indices were performing:
Sectoral indices on NSE at 9:27 am. (Source: NSE)
Global markets
Asian shares skidded on Tuesday on growing worries about a second wave of coronavirus infections after the Chinese city where the pandemic originated reported its first new cases since its lockdown was lifted.
The central Chinese city of Wuhan reported five new cases on Monday, casting doubts over efforts to lower coronavirus-related restrictions across the country as businesses restart and individuals went back to work.
MSCI’s broadest index of Asia Pacific shares outside of Japan stumbled more than 1 per cent, snapping two straight sessions of gains.
Hong Kong’s Hang Seng index was among the hardest hit, down 1.4 per cent followed closely by Australia, off 1.3 per cent. Chinese shares dithered in early trade with the blue-chip CSI300 index off a shade. South Korea’s KOSPI faltered 0.9 per cent.
As countries around the world gradually ease restrictions in an effort to restart their economies, investors are becoming anxious about a second wave of infections.
– with global market input from Reuters
