Indian markets remained under pressure on April 13, tracking weak global cues. The S&P BSE Sensex failed to hold on to 31,000, while the Nifty50 breached its crucial support placed at 9,000.
Let’s look at the final tally on D-Street: the S&P BSE Sensex fell 469 points to 30,690 while the Nifty50 closed 118 points lower at 8993.Sectorally, the action was seen in telecom, capital goods, metals, and infra stocks while profit-taking was visible in realty, consumer durables, finance, auto and banks.
The broader markets outperformed – the S&P BSE Midcap index fell 0.93 percent while the S&P BSE Smallcap index was down 0.46 percent.
The market witnessed last hour selloff ahead of Prime Minister Narendra Modi’s address on April 14, when the 21-day nationwide lockdown ends. He is expected to spell out the plan his government has put in place to curb the spread of the coronavirus.
Markets will be shut on the day on account of a public holiday.
Although D-Street has factored in a possible extension of the lockdown, there are also reports of a restrictions being eased for certain sectors that should support sentiment.
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