The Indian markets have opened the week on a weak note as the benchmark indices have lost more than 3% each. The S&P BSE Sensex and NSE Nifty 50 have reacted negatively to the growth stimulus package of worth Rs 20 lakh crore announced by the Finance Minister over the weekend.
The government’s decision to extend the nationwide lockdown has only added to the worries of the businesses in the country. The lockdown 4.0 is imposed till the 31st of May to prevent new cases of coronavirus infection. However, the government has announced some relief in this version of lockdown.
The S&P BSE Sensex lost 3.44% or 1,069 points to close Monday. However, it has closed the day above its crucial mark of 30,000 points. It ended at 30,038.97 levels. The NSE Nifty 50 tanked 3.43% points or 314 points to close today’s trading session at 8,823 points. India VIX, the volatility index has shot up 7.58%.
The stocks of HDFC, Axis Bank and Maruti fell by the 7% each while the IndusInd bank collapsed nearly 10% today. The tech giant TCS gained the most; it zoomed 2% on Monday. ICICI Bank and HDFC duo were the top losers among the stocks constituting the Sensex index.
Also Read: Indian Benchmark Indices End Friday Flat, but in Red
Most NSE Nifty sectoral indices continued the trend of closing in the red. The NSE Nifty Bank and the NSE Nifty PSU Bank lost 6.7% and 5.9% respectively, while the NSE Nifty IT index zoomed nearly 0.9%. The S&P BSE SmallCap index ended Monday 2.9% lower, and the BSE MidCap shed 3.75%.
Financial stocks (those of NBFCs and HFCs) collapsed over 12% on the Bombay Stock Exchange (BSE). This comes on the back of growing concerns over the asset quality metrics coming under pressure due to the imposition of lockdown 4.0 until the end of May.
The Indian markets have opened the week on a weak note as the benchmark indices have lost more than 3% each. The S&P BSE Sensex and NSE Nifty 50 have reacted negatively to the growth stimulus package of worth Rs 20 lakh crore announced by the Finance Minister over the weekend.
The government’s decision to extend the nationwide lockdown has only added to the worries of the businesses in the country. The lockdown 4.0 is imposed till the 31st of May to prevent new cases of coronavirus infection. However, the government has announced some relief in this version of lockdown.
The S&P BSE Sensex lost 3.44% or 1,069 points to close Monday. However, it has closed the day above its crucial mark of 30,000 points. It ended at 30,038.97 levels. The NSE Nifty 50 tanked 3.43% points or 314 points to close today’s trading session at 8,823 points. India VIX, the volatility index has shot up 7.58%.
The stocks of HDFC, Axis Bank and Maruti fell by the 7% each while the IndusInd bank collapsed nearly 10% today. The tech giant TCS gained the most; it zoomed 2% on Monday. ICICI Bank and HDFC duo were the top losers among the stocks constituting the Sensex index.
Most NSE Nifty sectoral indices continued the trend of closing in the red. The NSE Nifty Bank and the NSE Nifty PSU Bank lost 6.7% and 5.9% respectively, while the NSE Nifty IT index zoomed nearly 0.9%. The S&P BSE SmallCap index ended Monday 2.9% lower, and the BSE MidCap shed 3.75%.
Financial stocks (those of NBFCs and HFCs) collapsed over 12% on the Bombay Stock Exchange (BSE). This comes on the back of growing concerns over the asset quality metrics coming under pressure due to the imposition of lockdown 4.0 until the end of May.
For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in
Engineer by qualification, financial writer by choice. I am always open to learning new things.
