The Indian stock market closed in red on April 20. The benchmark indices BSE Sensex and NSE Nifty weakened by about 0.5% amidst considerable volatility. Investors’ concern is growing due to the increasing cases of Corona. The IT sector was a weakness in most of the stocks. Let’s understand what was important on the first day of the week in the market.
Sensex has now come down to 47,750 due to continuous decline. The Nifty is also close to 14,300 after weakness.
The big things of the business of April 20-
The BSE Sensex weakened 243 points, while the NSE Nifty 50 index lost 63 points.
At the time of closing the market, 17 out of 30 stocks of the Sensex pack remained in the red mark. 23 shares gained in 50 of Nifty packs.
In the Nifty pack, Tata Consumer, Sun Pharma and Cipla made their 52-week peak.
Nifty Smallcap 100 and Nifty Midcap 100 closed in the green mark with index bounce. The midcap index gained 0.3% while the smallcap index gained 1%.
The Volatility Index (VIX) has reached 22.42 after a decline of 0.31%.
Open – 14,526.70
Close – 14,296.40
Variations – (-0.44%)
High – 14,526.95
Open – 48,473.04
Close – 47,705.80
Variations – (-0.51%)
High – 48,478.34
The reason for the breakdown of the market-
Investors’ concerns about Corona matters remain. This can have a major impact on economic activity. The mixed signals of foreign markets also helped Byers a little in the market. Investors are also being cautious before the fourth quarter results. More enthusiasm in the market from foreign institutional investors and domestic institutional investors is the reason for disappointment in the market.
Which sector did how well?
The sector-based indices of the Nifty did not show major changes on Tuesday. Nifty auto and pharma sectors gained nearly 1%. At the same time, the metal and realty indices rose by about 0.35%. In contrast, the Financial Services and FMCG indices weakened by 0.6%. The Nifty IT index fell 1.37% while the Bank index fell 0.31%. The energy index closed flat after a slight decline.
Nifty-50 shares seen the fastest in these stocks
Dr. Reddy Labs (+ 3.56%)
Bajaj Finserv (+ 3.48%)
HDFC Life (+ 3.01%)
Bajaj Finance (+ 2.62%)
Tata Consumer (+ 2.09%)
These shares of Nifty-50 are broken.
Ultratech Cement (-4.93%)
HCL Tech (-3.39%)
Shree Cement (-2.75%)
Stocks that remain most active-
HDFC, Dr Reddy Labs and Tata Motors were the three most active stocks in the Nifty by value. At the same time, according to the volume, the stock of Tata Motors, SBI and ICICI Bank dominated.
What is the sign next?
The constantly growing Corona cases can be worrying for the market. Investors will also be watching the fourth quarter results for the next few days. Investors should trade with caution.