Sensex falls 469.60 points, Nifty ends at 8993.85; L&T, Hindalco, Bharti Airtel Grand Prize Winner


New Delhi: The stock index indices ended lower on Monday (April 13), with the Sensex falling 469.60 points, or 1.51%, to 30690.02, while the broader nifty also fell 118.05 points, or 1.30%, to 8993.85 lock. The Nifty’s main winners were L&T, Hindalco, Bharti Airtel and Adani Ports, while the top losers were Bajaj Finance, Zee Entertainment, Bajaj Finserv and Titan Company.

The buy was observed in the metal, pharmaceuticals and infrastructure sectors, while the property index fell 5 percent, followed by auto, banking, energy, IT and FMCG.

Before the close, the benchmarks traded weakly, with the Sensex falling 381.05 points or 1.22% to 30778.57 and the Nifty also falling 97.35 points or 1.07% to 9014.55. Around 1080 shares rose, 1125 shares declined, and 153 shares remained unchanged.

In line with Asian auto and real estate competitors who had suffered heavy losses, the stock index indexes fell over 1.5 percent early in the morning on Monday (April 13) as the country decided to extend the 21-day Curfew prepared to curb the spread of coronavirus.

Market sentiment was hit today by more than a dollar a barrel rise in global crude oil prices after the top producers agreed to their largest ever cut in production. At 10:15 a.m., the BSE Sensex fell 508 points, or 1.63 percent, to 30,652, while the Nifty 50 dropped 137 points, or 1.5 percent, to 8,975. With the exception of Nifty Pharma, all industry indices on the National Stock Exchange were down, with Nifty slipping 4.6 percent, real estate 4.2 percent, financial services 3.1 percent, and private banks slipping 2.8 percent.

Among the stocks, Mahindra & Mahindra fell 6.8 percent to 355.25 rupees per share, while Maruti lost 5.9 percent, Bajaj Auto 4.6 percent, and Hero MotoCorp 3.6 percent. Bajaj Finance fell 7.9 percent, Bajaj Finserv 4.8 percent, Titan 5 percent, ONGC 4.4 percent, and Axis Bank 4.2 percent, but the .pharma majors Dr. Reddy`s and Cipla gained 2.2 percent and 1.5 percent.

Meanwhile, global stocks fell as investors looked for further signs of economic damage from the coronavirus pandemic. The Nikkei fell 1.4 percent, while MSCI’s broadest Asia-Pacific equity index outside Japan slipped slightly, and South Korean stocks fell 0.9 percent. Hong Kong’s financial markets were closed, while mainland China’s CSI300 index fell 0.6 percent in early trading.

A group of oil-producing countries known as OPEC +, which includes Russia, agreed to cut production by 9.7 million barrels a day after four days of marathon talks in May and June. Brent crude oil futures, the global oil benchmark, rose 4.29 percent to $ 32.83 a barrel after Saudi Arabia-dominated Opec producers and Russia-led allies signed a compromise agreement on Sunday, to cut production by almost 10 million barrels a day from May.

(With agency input)