Hi there! From ETMarkets.com, this is Amritesh with Your Evening Briefing.
LET’S START WITH THE TOP HEADLINES AT THIS HOUR
>> Sensex starts FY21 deep in the red, sheds 1,203 points. >> GST collections for March stand at Rs 97,597 crore. >> Naren says selloff ‘once-in-a-decade’ opportunity. >> Promoters raise stake in Edelweiss; stock jumps 5%. >> March electricity usage falls 9.2% as lockdown bites. >> Crude oil falls towards $25 as oversupply fears mount. >> Dow down 800 points in opening trade.
Now a quick glance at what happened in Indian stock market.
Sensex dropped 1,203 points to close at 28,265, while Nifty shed 334 points to close at 8,264.
The sell off wiped off Rs 3.21 lakh crore from the market capitalization of BSE-listed companies.
The market breadth was neutral with gainers and losers nearly equal in number.
In the broader market, the fall was not as steep. BSE Midcap and BSE Smallcap indices dropped 2.18 per cent and 1.06 per cent, respectively.
In stock-specific action, YES Bank spiked 7 per cent after the private lender raised Rs 3,500 crore through certificates of deposit
Shares of Delta Corp climbed 5 per cent after Radhakishan Damani bought 15,50,000 shares in the company.
Ashok Leyland reported a 90 per cent decline in total vehicles sales at 2,179 units in March. The stock fell 4.53 per cent.
Jyoti Roy of Angel Broking has more on market fundamentals.
Are you a worried or opportunistic investor right now?
What are your expectations from FY21?
Which factors do you think will drive sentiment in this financial year?
Mr Roy, which stocks are on top of your buying list?
Nifty tumbled 4 per cent in a session, which was ruled entirely by the bears. The index formed a Bearish Belt Hold pattern on the daily chart.
We have with us Mazhar Mohammad of Chartview India to get a lowdown on market technicals.
How do you see the market performing ahead?
That’s all for now, folks. Do check out ETMarkets.com for detailed market analysis and download the ETMarkets app on your phone for round-the-clock market coverage, investment tips and dozens of stock recommendations.