Homemarket Newsstocks News

Opening Bell: Sensex falls 100 points, Nifty holds 9,900, banks, metals drag

Opening Bell: Sensex falls 100 points, Nifty holds 9,900, banks, metals drag

Opening Bell: Sensex falls 100 points, Nifty holds 9,900, banks, metals drag
Profile image

By Ankit Gohel  Jun 15, 2020 9:43:49 AM IST (Published)

Indian equity benchmark indices opened lower Monday following weakness in Asian peers as fears of a second wave of coronavirus infections in China dampened investor risk appetite.

Indian shares tracked lower Asian markets on Monday amid concerns over a resurgence of coronavirus cases and gloom after Wall Street recorded its worst week in nearly three months. Asian markets traded lower after Beijing reported an outbreak of new infections and took strict measures to tackle the spread.

Recommended Articles

View All

At 9:15 am, the Sensex opened 110.34 points, or 0.33 percent lower, at 33,670.55, while the Nifty50 index opened at 9,919.35, down 53.55 points, or 0.54 percent. Broader indices outperformed the benchmark indices with Nifty Smallcap100 and Nifty Midcap100 indexes trading higher 0.64 percent and 0.16 percent respectively.
Among sectoral indices, the Nifty Private Bank and Nifty Financial Services fell the most over 1 percent each followed by Nifty Auto, Nifty Metal and Nifty FMCG. Buying was witnessed in Nifty IT, Nifty Pharma and Nifty Media.
JSW Steel, IndusInd Bank, Tata Steel, L&T and Tata Motors led t decline among Nifty50 constituents while Zee Entertainment, Wipro, Dr Reddy's Labs, Infosys and Hindalco were the top index gainers.
Shares of Reliance Industries eased even after it announced that global investment firm TPG will invest Rs 4,547 crore in Jio Platforms for a 0.93 percent stake while L Catterton will invest Rs 1,894.50 crore for a 0.39 percent stake. With these investments, Jio Platforms has raised Rs 104,326.95 crore from leading technology investors.
PNB Housing Finance declined over 3 percent after it reported a net loss of Rs 242.06 crore in the fourth quarter of fiscal 2020 due to higher provisioning amid the COVID pandemic. The company had reported a consolidated net profit of Rs 379.77 crore in the same period last year.
Globally, Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China further weighed on sentiment.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent.
(Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!