New Delhi: Share Market today is reeling under much pressure as BSE Sensex on Monday crashed more than 1,400 points to drop at 47,574.47 and NSE Nifty tanked 379.10 points to 14,238.75 in opening session. This has come as rising Coronavirus cases and strict lockdown-like measures adopted by the state governments have spooked investors of the stock market. Among the top losers during the early morning trade in the stock market are Adani Ports and SEZ, IndusInd Bank, Nifty Auto, and Nifty Realty.
On Friday, April 16, equity benchmarks Sensex and Nifty have ended marginally higher after a volatile session on Friday amid positive cues from global markets. The 30-share BSE Sensex ended 28.35 points or 0.06 per cent higher at 48,832.03. Similarly, the broader NSE Nifty rose 36.40 points or 0.25 per cent to 14,617.85. Asian Paints was the top gainer in the Sensex pack, rising over 2 per cent, followed by UltraTech Cement, ONGC, Sun Pharma, HCL Tech and Nestle India.
On the other hand, ICICI Bank, Bajaj Finance, L&T, TCS, Infosys and Reliance Industries were among the laggards. A continued surge in second wave of COVID-19 cases in the country, which already crossed 2 lakh daily cases, has certainly posed a risk to sustainability of rebound of earnings momentum, said Binod Modi, Head-Strategy at Reliance Securities.
While the government’s strong effort to expedite vaccination progress and absence of complete lockdown in Maharashtra and Delhi offered some comfort to equities, the risk of other states taking steps of wider economic restrictions continues to persist, which may continue to weigh on investors’ sentiments in the near term, he noted.