Sensex, Nifty Edge Lower As Auto, Energy Shares Weigh On Markets

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Market Live: Sensex, Nifty Edge Lower As Auto, Energy Shares Weigh On Markets

Stock Market Updates: Analysts say some more correction cannot be ruled out in the near term.

Domestic stock markets fell after a positive start in a volatile session on Tuesday, a day after the news of fresh lockdowns in the UK to curb the spread of a new strain of coronavirus spooked investors. The S&P BSE Sensex index dropped 412.32 points, or 0.91 per cent, to 45,141.64 at the weakest level recorded in morning deals, and the broader NSE Nifty 50 benchmark declined to as low as 13,211.55, down 116.85 points, or 0.88 per cent, from its previous close.

Here are 10 things to know about the markets today:

  1. At 10:36 am, the Sensex traded 55.15 points, or 0.12 per cent, lower at 45,498.81 while the Nifty was down 11.05 points, or 0.08 per cent, at 13,317.35.

  2. Tata Motors, Bajaj Finance, Indian Oil, ONGC, ITC, State Bank of India and Hero MotoCorp, trading between 2.35 per cent and 4.65 per cent lower, were the worst hit among 43 laggards in the Nifty basket of 50 shares. (Also Read: Stocks To Watch)

  3. Reliance, ITC and Bajaj Finance were the biggest drags for Sensex, together accounting for more than 150 points in the loss in the index. 

  4. The NSE’s India VIX index, which gauges the expectation of volatility in the near term, rose as much as 3.10 per cent during the session. Overall market breadth was extremely negative, with an advance-decline ratio of nearly 1:6 on the BSE. A total of 341 shares rose on the bourse against 1,922 that succumbed to losses. 

  5. On Monday, the Sensex had slumped 1,406.73 points, or 3.00 per cent, to end at 45,553.96, and the Nifty settled at 13,328.40, down 432.15 points, or 3.14 per cent, from its previous close, having inched higher to record peaks briefly.

  6. However, both indices are still up more than 2 per cent so far this month, boosted by record inflows from foreign institutional investors (FIIs), progress on COVID-19 vaccines globally and signs of a domestic economic recovery.

  7. Equity markets in other parts of Asia slipped, extending a pullback from multi-year highs hit last week, on renewed fears a highly infectious new strain of COVID-19 that shut down much of Britain could lead to a slower global economic recovery.

  8. MSCI’s broadest of Asia Pacific stocks outside Japan traded 0.21 per cent lower at the last count. Japan’s Nikkei 225 benchmark slipped 0.85 per cent.

  9. Countries across the globe shut their borders to Britain on Monday due to fears about a new strain of coronavirus, said to be up to 70% more transmissible than the original, causing travel chaos and raising the prospect of food shortages days before Britain is set to leave the European Union.

  10. The discovery of the new strain, just months before vaccines are expected to be widely available, renewed fears about the virus, which killed about 1.7 million people worldwide. As a result European shares fell on Monday in their worst session in almost two months.

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