Sensex Ends Higher While Nifty Closed in the Red

The Indian stock markets marked the end of Monday on almost a flat note. The markets were not anticipated to perform overwhelmingly today as there was a crash in the prices of the crude oil, which will have a direct bearing on the Indian markets. Also, the market sentiment was down on the back of weak global markets. 

The S&P BSE Sensex ended Monday around 0.19% higher. It closed at 31, 648 points. The gains in the Sensex index were powered by the stocks of IT and PSU Banks. The shares of Sun Pharma, Infosys, and HDFC Bank rallied to gain 3.6%, 3.75%, and 4% respectively on Monday. 

The NSE Nifty 50 ended the day in the red. It lost 0.05% or 4.90 points to close Monday at 9,261.85 points. As many as 1,447 shares rallied while 1,007 shares dropped. On the other hand, 179 shares did not see any changes in their value. 

The global markets were in the caution mode as another routing of the US crude oil futures set up the week on a weaker note. This week, the investors are looking forward to the release of data which will show the extent of the impact that the novel coronavirus pandemic has inflicted on the businesses and markets around the world. 

Also Read: Sensex Drops 300 Points While Rupee Touches 76.44 a Dollar

The European stocks have begun the week on a negative note with the pan-regional being volatile in the early trading hours. Germany’s DAX and the UK’s FTSE were up around 0.2% each.  

The oil prices were down. This is attributed to the concerns over the falling demand in the United States due to the ravaging coronavirus. The businesses are now expected to announce their worst quarterly revenues since the subprime mortgage crisis which shook the world back in the year 2008. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in