NEW DELHI: Rising concerns over inflation and the prospect of a possible early interest rate hike kept the mood on Dalal Street sombre on Tuesday. Benchmark indices closed in the red amid selling pressure seen in metal and bank stocks.
The stimulus measures announced by the government on Monday failed to impress the economists and the market. Many say it is not enough to give a boost to the struggling economy, while some see select sectors benefiting from it.
The 30-share pack Sensex declined 185.93 points or 0.35 per cent to close at 52,549.66. Its broader peer NSE Nifty dropped 66.25 points or 0.42 per cent to settle at 15,748.45. Both indices closed in the red for a second straight day.
“Despite the government’s stimulus package to revive stressed sectors, domestic equities continued to trade weak due to new coronavirus outbreaks in Asia. The extension of the emergency credit guarantee scheme to MSMEs and the subsidised financing to small borrowers will be a boost to the microfinance and NBFC sectors,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
The stimulus measures announced by the government on Monday failed to impress the economists and the market. Many say it is not enough to give a boost to the struggling economy, while some see select sectors benefiting from it.
The 30-share pack Sensex declined 185.93 points or 0.35 per cent to close at 52,549.66. Its broader peer NSE Nifty dropped 66.25 points or 0.42 per cent to settle at 15,748.45. Both indices closed in the red for a second straight day.
Did you Know?
Stock score of Reliance Industries Ltd moved down by 1 in a week on a 10-point scale.
View Latest Stock Report »“Despite the government’s stimulus package to revive stressed sectors, domestic equities continued to trade weak due to new coronavirus outbreaks in Asia. The extension of the emergency credit guarantee scheme to MSMEs and the subsidised financing to small borrowers will be a boost to the microfinance and NBFC sectors,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- Cipla gains 2% as pharma co gets DCGI nod to import Moderna vaccine
- DCM Shriram Industries tanks 7% after Q4 results, stock split
- HDFC Life tanks 3% as Standard Life likely sells 7 crore shares
- GIC Housing rallies 18% after a strong show in Q4
- Volatility gauge India VIX eases 3%
In Video:
Bank, IT stocks drag Sensex 186 pts lower; Nifty below 15,750; Indian Bank tanks 6%, SJVN 5%
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