Stock Close Status: Markets Bearish-Cry; Metal, Auto See Selling

Bearish-market

Key benchmark indices declined in trade for the second consecutive day with the Sensex sinking 188-points to close at 40,966.86 points. The NSE Nifty conversely slipped lower by 63-pts to settle the day at 12,055-levels.

Metal stocks slipped sharply by 2.39 percent following worries that the Corona-virus would drag world economic strides lower.

Vedanta, Bharti Airtel, Tata Motors, Tata Steel and JSW Steel were top Nifty losers, whereas Bharat Petroleum, HDFC, Bajaj Finance, Sun Pharma and Bajaj Finserve were the top five gainers in the Nifty.

Key stocks such as Reliance Industries, Wipro, ICICI Bank, Hindustan Unilever, and ITC were also slipped among others.

Shares in Maruti Suzuki concluded 2.10 percent lower at Rs.6,999-percent even after posting its strong quarterly profits.To get updated Stock Market Tips and free stock tips visit our website.

Among sectoral stocks in the Nifty, increased selling pressed was observed in the metal-down 2.39 percent, Auto-down 1.29 percent and Media-down 1.10 percent for the day.

Banking stocks also slipped lower with a major cut in Central Bank of India, down by 4 percent, ahead of its quarterly numbers. Nevertheless, the Nifty IT, Nifty Financial Service and the Nifty Realty were positive, higher up to 0.27-percent.

Housing Development Finance Corp (HDFC) added 1.57 percent or Rs.37.60 in its share price today @Rs.2433.40-per share, emerging the index topper both on Sensex and the Nifty in the light of strong Q3 results and buy calls by various brokerages.

This week, however, markets are likely to be somewhat volatile ahead of the Union-Budget 2020 as per analysts’point of view!

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