India Stocks Fall due to Sectors Losses
India stocks fell at the close of stock trading on Monday as sectors losses caused shares to fall. Losses in the Real Estate, Banking and Auto sectors led shares of investors to drop.
The Nifty was down 4.38% while the BSE Sensex 30 index went down to 4.61%.
India Stocks On the Nifty 50 Session
Outperforming on the Nifty 50 was Cipla Ltd. up 6.71% or 27.35 points to trade at 435.00 at the close. Moreover, Tech Mahindra Ltd gained 4.74% or 23.90 points to end at 528.00. Nestle India Ltd was up 3.78% or 570.95 points to 15679.55 in late trade.
On the opposite side, Bajaj Finance Ltd, fell 11.89% or 302.30 points to trade at 2240.00 at the close. Housing Development Finance Corporation Ltd was down 10.83% or 190.00 points to end at 1564.00. Kotak Mahindra Bank Ltd. was down 8.37% or 117.10 points to 1282.00.
On the BSE Sensex 30
One of India stocks outperformers on the BSE Sensex 30 was Tech Mahindra Ltd which was up 4.94% to 528.50. Nestle India Ltd rose 4.49% to settle at 15768.15 and AXIS Bank Ltd. went up 2.50% to close at 368.70.
On the opposite side was Bajaj Finance Ltd falling 11.95% to 2242.25 in late trade. Housing Development Finance Corporation Ltd lost 10.92% to settle at 1562.60 and Tata Steel Ltd fell 8.36% to 254.15.
Falling Stocks Outnumbered the Rising Ones
Falling India stocks exceed the number of advancing ones by 960 to 558 and 93 ended unchanged. On the Bombay Stock Exchange, 1293 dropped and 872 rose, while 159 ended unchanged.
Shares in Bajaj Finance Ltd dropped to 52-week lows, down 11.89% or 302.30 to 2240.00. Shares in Bajaj Finance Ltd dropped to 52-week lows falling 11.95% or 304.20 to 2242.25. Shares in Tata Steel Ltd dropped to 3-years lows, down 8.36% or 23.20 to 254.15.
Furthermore, the India VIX was up 2.14% to 71.8900.
Meanwhile in stock market news, Sensex has crashed with COVI-19 cases rising in India and abroad. The dumping of shares by foreign investors weigh on investor sentiments. BSE flagship Sensex fell 1,375 points to 28,440.32 while NSE barometer Nifty fell 379 points to 8,281.
Total number of COVID-19 cases in India has surged above 1,100. Reports showed 942 active cases while 20 patients succumbed to the virus and 99 have been discharged from the hospitals.
