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MARKET WRAP: Sensex ends flat ahead of PM's address, Nifty closes at 10,302

All that happened in the markets today

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Markets | Coronavirus | Tata Steel BSL

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

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The S&P BSE Sensex ended at 34,916, down 46 points or 0.13 per cent.
The domestic stock market ended Tuesday's volatile session on a flat note with negative bias, thus erasing all their early gains ahead of the Prime Minister Narendra Modi's address to the nation scheduled at 4 PM today. 

The Centre on Monday issued guidelines for “unlock 2.0”, but the rapid increase in Covid-19 cases in several parts of the country meant it stopped short of reopening schools, colleges, and coaching institutions. READ MORE

The S&P BSE Sensex ended at 34,916, down 46 points or 0.13 per cent and the NSE's Nifty settled at 10,302, down 10 points or 0.10 per cent. 

Reliance Industries (RIL), HDFC Bank, ITC, and TCS were the major contributors to the Sensex's fall. Power Grid  (down 2 per cent) ended as the biggest loser on the index while Maruti Suzuki India (MSIL) was the top gainer - up 2.8 per ecnt.

Tata Steel climbed over 4 per cent in the early deals after the announcement of its March quarter results. The stock ended at Rs 327, up 1.7 per cent on the BSE.

The trend among Nifty sectoral indices was mixed, with the Nifty Auto index ending over 1 per cent higher, leading the list of gainers. On the flip side, PSU bank stocks fell the most, followed by pharma, and media stocks. 

In the broader market, small cap index underperformed the benchmarks and midcap pack. The S&P BSE MidCap index shed 0.14 per cent while the S&P BSE SmallCap index lost 0.75 per cent.

Global markets

Asian shares advanced on Tuesday as positive economic data from China and the United States helped to close out a strong quarter, though a renewed surge in global cases underlined a challenging investment climate.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.51 per cent, on course for its highest quarterly gain in nearly 11 years. Shares in Australia were also up 1.43 per cent, Korea jumped 1 per cent and Japan rose 1.33 per cent.

In Europe, shares edged down as took stock at the end of the first half of 2020.

In commodities, oil prices slipped as traders took profits after sharp gains in the previous session and Libya’s state oil company flagged progress on talks to resume exports, potentially boosting supply.

(With inputs from Reuters)

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