The equity barometers were trading near the day's low in afternoon trade. The Nifty was hovering below 14,800 mark. Rising COVID-19 cases and negative global cues triggering selling in domestic shares.
At 13:20 IST, the barometer index, the S&P BSE Sensex, skid 796.37 points or 1.56% at 50,093.39. The Nifty 50 index lost 207.35 points or 1.38% at 14,774.40.
Reliance Industries (down 2.50%), HDFC (down 2.90%) and TCS (down 3.18%) were major drags.
Selling was broad based. The S&P BSE Mid-Cap index slipped 1.11%. The S&P BSE Small-Cap index fell 0.63%.
Sellers outnumbered buyers. On the BSE, 1,026 shares rose and 1,876 shares fell. A total of 165 shares were unchanged. In Nifty 50 index, 11 stocks advanced while 39 stocks declined.
Foreign portfolio investors (FPIs) bought shares worth Rs 118.75 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,174.98 crore in the Indian equity market on 19 February 2021, provisional data showed.
Amid a spurt in COVID-19 cases, Maharashtra Chief Minister Uddhav Thackeray on Sunday held a televised conference to address the COVID-19 situation in the state. "If the (COVID-19) situation deteriorates, then we have to impose lockdown. Those who want lockdown can roam around without mask while those who don't want it must wear mask and follow all the rules," he said.
Total COVID-19 confirmed cases worldwide stood at 11,13,66,034 with 24,66,263 deaths. India reported 1,50,055 active cases of COVID-19 infection and 1,56,385 deaths while 1,06,99,410 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
Meanwhile, a total of over one crore 11 lakh people have been administered COVID-19 vaccines in the country so far. Union Health Ministry said that 31 thousand 681 people have been inoculated with COVID-19 doses in the last 24 hours. The country's COVID-19 recovery rate reached 97.22% with the total recovery of more than nine thousand patients in the last 24 hours.
Gainers & Losers:
Hindalco Industries (up 3.78%), JSW Steel (up 3.55%), Tata Steel (up 2.85%), ONGC (up 2.71%) and HDFC Bank (up 1.76%) were major gainers in Nifty 50 index.
Mahindra & Mahindra (M&M) (down 4.56%), Tech Mahindra (down 3.92%), Axis Bank (down 3.54%) and PowerGrid Corporation of India (down 3.29%) were major losers in Nifty 50 index.
Stocks in Spotlight:
Narayana Hrudayalaya gained 0.87%. The company said its subsidiary, Health City Cayman Islands, is expanding to a new location in the Camana Bay Development area of Grand Cayman. Health City Cayman Islands (HCCI), the step-down subsidiary of the company running an existing hospital in the Cayman Islands is expanding to a new location in the Camana Bay Development area of Grand Cayman, the largest of the three islands which constitutes the self-governing territory of Cayman Islands. HCCI is currently offering tertiary healthcare services to medical tourists and Caymanians from its existing unit in East End, which is located about 30 KMs away from George Town, the capital and hub of prominent activity of the nation.
Dr Reddy's Laboratories skid 2.86%. The drug major on Monday announced the launch of lansoprazole DR orally disintegrating tablets in the US market. Dr. Reddy's Laboratories' lansoprazole DR orally disintegrating tablets are available in 15 mg and 30 mg tablets in unit-dose packages of 100. The product is therapeutic equivalent generic version of Prevacid SoluTab delayed release orally disintegrating tablets approved by the U.S. Food and Drug Administration (USFDA). Prevacid is a trademark of Takeda Pharmaceuticals U.S.A., Inc. Lansoprazole is used to treat certain stomach and esophagus problems (such as acid reflux, ulcers). According to IMS Health, the Prevacid brand and generic had US sales of approximately $87 million for the most recent twelve months ending in December 2020.
European stocks declined at opening bell on Monday amid cautious trade in global markets. Developments surrounding the pandemic and vaccine rollout remain in focus. The UK is set to detail later on Monday how it plans to lift lockdown measures gradually in the coming months, as its vaccination rollout maintains its good pace.
Most Asian stock declined on Monday as China left its benchmark lending rate unchanged over the weekend.
China kept the one-year loan prime rate (LPR) unchanged at 3.85%, largely in line with expectations. The five-year LPR was also kept steady at 4.65%. The LPR is a lending reference rate set monthly by 18 banks.
Stocks on Wall Street closed near break-even on Friday as investors sold technology shares that have rallied through the pandemic and rotated into cyclical stocks set to benefit from pent-up demand once the coronavirus pandemic is subdued.
The House of Representatives will try to pass a $1.9 trillion coronavirus relief plan before the end of February, Speaker Nancy Pelosi said Thursday. Democratic Congressional leaders may try to pass a package without votes from Republicans.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)