In the broader markets, mid-cap stocks faced a severe blow with the BSE MidCap index erasing 0.67 per cent.
The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively.
The BSE MidCap and SmallCap indices, however, underperformed the benchmarks
Signs of a strong corporate earnings season lifted demand for risky equities
In the global markets, mainstream indices in Japan, South Korea. and Australia declined in the range of 0.35 to 0.96 per cent
Sectorally, the Nifty Bank index declined over 2 per cent, led by losses in HDFC Bank (down over 3 per cent)
The mid- and small-cap indices meanwhile, outperformed and ended over 0.4 per cent higher each
HCL Tech (up over 5 per cent), L&T, Tech M, Hindalco, Wipro, UPL, HDFC Bank, and ITC were the top gainers
In the primary market, the Rs 9,300-crore initial public offer (IPO) of Zomato was subscribed 57 per cent till 3:30 PM on the first day of the issue
The broader markets, on the flipside, outperformed the benchmarks with the BSE MidCap and SmallCap indices rallying 0.40 per cent and 0.75 per cent, respectively
The traders and investors are cautious of heavy profit booking in the indices. However, there aren't any major technical signals to support this view
Indian shares fell for a second straight session, hurt by heavyweight financials stocks and RIL, with sentiment dented by the US Fed projection of hiking interest rates sooner than expected
The S&P BSE Sensex gained 6.5 per cent, or 3,154 points in May on optimism on economic rebound and progress in pandemic fight is expected to evince buying interest across major sectors.
Back in 2017, Mark Galasiewski of Elliot Wave International had reiterated that he expects the S&P BSE Sensex to hit the 100,000 mark by 2024
Portfolio managers attempt to navigate India's pandemic by focusing on the nation's long-term growth prospects.
Even as the nation reports more than 300,000 confirmed infections daily, benchmark equity index has been moving in line with regional peers.
Virus has spread to places with poor medical infrastructure, says Samir Rachh, who works with Nippon India Mutual Fund.
On a weekly basis, both the frontline indices snapped their 3-week losing streak and added around 2 per cent higher each
Among key sectoral indices, robust global demand lifted the Nifty Metal index to record peak of 4,869 on the NSE today
CLSA opines that the surge in Covid cases in Maharashtra may taper in May as the state is in its fourth-month of the second wave. This, it believes, will be positive for the markets