Sensex slips 98 points, Nifty below 14,850
Sensex lost 98 points or 0.20% at 49,647, whereas the Nifty50 was trading at 14,837 down 36 points or 0.25%.
Benchmark Indian equity indices opened on a weak note led by mixed global cues and India recorded another high of COVID-19 cases. In opening trade, Sensex lost 98 points or 0.20% at 49,647, whereas the Nifty50 was trading at 14,837 down 36 points or 0.25%.
HUL, Sun Pharma, PowerGrid, ITC & Bajaj Auto were top gainers on the Sensex. Bajaj Finance, IndusInd Bank, ICICI Bank, L&T and Axis Bank were the laggards.
Barring Nifty Bank all major sectoral indices were trading in the green. Nifty Bank lost around 0.50%, on the other hand, Nifty FMCG rose 1.12% and Nifty Pharma was up 0.74%. Nifty Realty, Nifty Metal & Nifty IT index gained anywhere in the range of 0.27-0.61%.
Market breadth remained strong as 1,164 shares advanced versus 555 stocks declining and 518 scrips remained unchanged. The broader market bucked the trend and was trading with gains. BSE MidCap & BSE SmallCap index rose 0.32% & 0.73% respectively.
Stocks in spotlight:
Infosys announced a strategic long -term collaboration with ArcelorMittal, the world’s leading steel and mining company. ArcelorMittal has chosen Infosys to help accelerate the company’s digital transformation journey and enable next-generation application management and business process management (BPM) services for ArcelorMittal Europe.
CEAT has entered into a Third Addendum Agreement to the existing Share Subscription and Shareholders’ Agreement with Tyresnmore Online Private Limited (associate of the Company) and other parties, for making a future investment of up to Rs. 2.40 crore in Tyresnmore, on such terms and conditions as prescribed therein to acquire an additional 3.47% of the post issue total share capital of Tyresnmore.
Zensar announced that it has entered into a global strategic partnership with US-based Claimatic. This partnership combines industry-leading, intelligent decisioning software of Claimatic with Zensar’s world-class strategic consulting, enterprise delivery, and implementation services.
Ashok Leyland said that Switch Mobility Automotive joined hands with Siemens to address the potential of the e-mobility market in India, driven by a strong commitment to supporting zero-emission mobility through the lowest total cost of ownership.
Astron Paper & Board Mill informed that Unit-1 located at Halvad, Gujrat will be remain shut from 11th April 2021 for 10 to 12 days of scheduled preventive maintenance and for technical updation and modification.
Global markets:
Overseas, Asian stocks are trading mostly lower on Friday after the S&P 500 on Wall Street cruised to yet another record closing high overnight.
In US, the S&P 500 rose to another record high on Thursday amid a strong rally in major technology stocks.
Federal Reverse chairman Jerome Powell signaled on Thursday that the economic rebound from the pandemic still has room to go as the recovery thus far hasn’t been well-rounded. Powell also repeated that inflation is not expected to be serious even though near-term price pressures are likely.
Data showed an unexpected rise in the number of Americans filing new claims for unemployment benefits. A total of 744,000 Americans filed for unemployment benefits for the first time during the week ended April 3, the Labor Department said Thursday.