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Indian equities fell the most in a month as rising coronavirus cases continued to take a toll on investor sentiment.
The S&P BSE Sensex ended 1.7% lower at 49,180 while the NSE Nifty 50 index fell 1.8% to end at 14,549. Both benchmark indices fell the lowest level in a month. 47 out of the 50 index constituents ended with losses.
Sectoral indices fell across the board. The Nifty Bank index fell 2.6% or close to 900 points to end at 33,293. The index has fallen to its lowest in nearly two months.
PSU Banks and Metals were the top sectoral laggards in today's trading session. Both the indices fell 3.3% each in today's trading session.
The Nifty Realty index fell 3% while the Nifty Auto and Nifty Media indices fell 2.5% each while the FMCG and I.T. indices saw losses of over 1%.
The Nifty Pharma index was the only sectoral index that bucked the trend, even after ending off the day's high. The index ended little changed after trading with gains of over 1% for most parts of the day.
Broader markets also fell largely in-line with the benchmark indices. Both Nifty Midcap and Nifty Smallcap indices fell over 2% each at the close of trade.
The India Volatility Index rose the most in three weeks, rising 8.7% to end at 22.45.
1,430 stocks on the NSE ended with losses while 457 stocks managed to report gains.
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Indian equities opened lower on the penultimate day of the March F&O series after markets on Wall Street ended lower overnight. Sentiment across the Asia-Pacific too remains muted amidst a fresh outbreak of coronavirus cases.
The S&P BSE Sensex opened 0.5% lower at 49,786 while the NSE Nifty 50 index opened 0.7% lower at 14,712. Benchmark indices gained only for the second time during the last seven trading sessions on Tuesday.
Most sectoral indices have opened lower this morning. The Nifty Bank index is down nearly 300 points or 0.8% while the PSU Bank index is little changed. The Nifty I.T. and Nifty Metal indices have opened with losses of 1% each while the Auto index is down 0.7% at the start of trade.
Broader markets too have opened lower in mid-week trading. Both Nifty Midcap and Smallcap indices are down 0.3% at the start of trade.
671 stocks on the NSE have opened with gains while 912 are declining.
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