Home NEWS Coronavirus: Markets open in negative territory as rising Covid-19 cases spook investors

Coronavirus: Markets open in negative territory as rising Covid-19 cases spook investors

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At round 9:35 am, BSE Sensex was buying and selling decrease by 179.29 factors or 0.57 per cent at 31,506.46 whereas NSE Nifty fell 0.36 per cent at 9,237.90 factors.

A key cause behind weak market sentiments immediately is the contemporary leap in cases in India. (Photo: Reuters)

HIGHLIGHTS

  • Domestic markets open weaker on Thuesday citing contemporary spike in Covid-19 cases
  • Delay in aid bundle additionally weiged down market sentiments
  • At round 9:35 am, BSE Sensex was buying and selling decrease by 179.29 factors

Domestic markets on Thursday opened on Thursday in negative territory as a result of a pointy spike in Covid-19 cases in India, sparking contemporary worry amongst investors on Dalal Street.

Another cause behind the weak begin is the delay in the discharge of a aid bundle, which appears to have dented investor sentiments.

At round 9:35 am, BSE Sensex was buying and selling decrease by 179.29 factors or 0.57 per cent at 31,506.46 whereas NSE Nifty fell 0.36 per cent at 9,237.90 factors.

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Yes Bank was the highest gainer in early commerce after reporting a internet revenue of over Rs 2,600 crore in March quarter. Yes Bank shares surged practically 20 per cent in morning commerce. HCL Tech additionally gained practically Three per cent after constructive This fall numbers.

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However, financial institution, oil and FMCG shares pulled the inventory market in the course of the morning commerce session. Some of the highest losers in the course of the session are Hindustan Unilever, ONGC, Kotak Mahindra Bank, BPCL, ONGC.

While the India VIX volatility Index fell by 2 per cent, the worry gauge continues to color a grim image. Meanwhile, all Nifty Sectoral indexes are buying and selling in inexperienced besides Nifty Bank, Nifty FMCG and Nifty Financial Services.

The major cause behind weak market sentiments immediately is the contemporary leap in cases in India. The nation now has practically 53,000 constructive cases with over 1,700 deaths, set off one other wave of uncertainty in the markets.

Globally, Asian shares pared early losses after a shock leap in Chinese exports. Beijing reported a 3.5 per cent rise in exports in April towards all odds.

It has additionally led to hypothesis that the nation may recuperate from the financial affect of Covid-19 lockdown a lot faster and help world development.

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