The topline equity indices on the BSE and National Stock Exchange (NSE) resumed their negative run after a one-day recovery, as they slipped around 0.5 per cent each on Wednesday after fresh cases of coronavirus emerged in India.
In a press briefing during the day, Union Health Minister Dr Harsh Vardhan said that the total number of patients infected by the coronavirus in India now stands at 28.
The S&P BSE Sensex fell 214.22 points (0.55 per cent) to settle at 38,409.48. The 30-share BSE benchmark had opened on a positive note and climbed 168 points to 38,791.70 during the opening deals, however, soon after it gave up all its gains and turned negative and remained in the red for rest of the day. In the intraday trade, it had fallen as much as 777.60 to 37,846.10.
Similarly, the Nifty 50 index on the NSE ended 52.30 points (0.46 per cent) lower at 11,251.00. The 50-share NSE frontline index had risen 53.30 points to 11,356.60 in the early deals but soon after turned negative. It had slipped 221.15 points to 11,082.15 in intraday trade on Wednesday.
On the Sensex, HDFC Bank, ICICI Bank, ITC, Bajaj Finance and Reliance Industries (RIL) were the biggest contributors to the index’s fall on Wednesday.
All the sectoral indices on NSE except Nifty IT and Nifty Pharma index settled in the red on Wednesday. The Nifty Bank index crashed 505.50 points (1.73) to settle at 28,671.55. The bank index was dragged by Yes Bank, IndusInd Bank and HDFC Bank. On the other hand, the Nifty Pharma climbed 156.50 points (1.98 per cent) to end the day at 8,077.10. Cipla and Dr. Reddy’s Laboratories were the biggest drivers of the pharmaceutical index.
In the broader market, the S&P BSE MidCap index ended at 14,526.63, down 237.01 points (1.61 per cent) and the S&P BSE SmallCap index settled at 13,552.43, down 221.20 points (1.61 per cent).
“Fresh virus cases reported in India overshadowed monetary easing by Fed. Despite mixed global cues, the domestic market took a hit fuelled by weakness in metals, banks and auto stocks. Short term tremors due to virus could be felt across the globe including Indian indices but for the long term, the impact looks limited,” Vinod Nair, Head of Research, Geojit Financial Servies said in a post-market comment.
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