Equity indices fall sharply in late trading, banking stocks suffer
Jun 09, 2020
Mumbai (Maharashtra) [India], June 9 : Equity benchmark indices were on a downward slide during the second half of Tuesday's trading session, eroding most of the morning gains in banking and financial stocks.
Profit booking was witnessed across all counters as experts indicated towards increasing inflows through foreign portfolio investments and general optimism emanating due to reversal of the COVID-19 lockdown.
At the closing bell, the BSE S&P Sensex was down by 414 points or 1.2 per cent at 33,957 while the Nifty 50 edged lower by 121 points or 1.19 per cent at 10,047.
All sectoral indices at the National Stock Exchange were in a sea of red except for Nifty pharma which gained by 1.8 per cent.
Among stocks, ICICI Bank was the top loser with a loss of 3.7 per cent at Rs 346.30 per share. HDFC Bank dropped by 3.1 per cent to wind up the day at Rs 984.45 per unit.
Wipro slid by 3.7 per cent, GAIL and Tata Motors by 3.6 per cent each, Titan by 3.2 per cent and JSW Steel by 3 per cent.
However, Dr Reddy's gained by 3.8 per cent to Rs 4,120 per share while Sun Pharma moved up by 1.9 per cent and Cipla by 0.7 per cent.
Shares of Adani Green jumped by 4.98 per cent to a record high of Rs 312.75 per unit after bagging the world's largest solar bid envisaging total investment of six billion dollars.
Meanwhile, Asian stocks rallied for their ninth straight day and oil prices jumped as the lifting of coronavirus lockdowns in many countries fuelled investor hopes of a relatively quick global economic recovery.
Hong Kong's Hang Seng index climbed 1.13 per cent and South Korea's Kospi by 0.21 per cent. But Japan's Nikkei bucked the trend to be down 0.38 per cent.
