Equity indices in the red, financials and metals lose shine

ANI
29 Jun 2020, 15:18 GMT+10

Mumbai (Maharashtra) [India], June 29 (ANI): Equity benchmark indices fell by over 1 per cent during early hours on Monday amid weak global cues as coronavirus cases continue to surge across the world.

That dimmed the hopes of an early economic recovery and drove investors to safer assets like government bonds, gold and the US dollar.

At 10:15 am, the BSE SP Sensex was down by 431 points or 1.23 per cent at 34,740 while the Nifty 50 edged lower by 130 points or 1.25 per cent at 10,253.

Except for Nifty FMCG and pharma, all sectoral indices at the National Stock Exchange were in the negative zone with Nifty metal down by 2.6 per cent, private bank by 2.3 per cent and financial service by 2 per cent.

Among stocks, Bajaj Finance dropped by 4.3 per cent to Rs 2,778.85 per share while Bajaj Finserv slipped by 2.8 per cent to Rs 5,776.85.

Private lenders were on slippery ground with Axis Bank down by 4.4 per cent, IndusInd Bank by 3 per cent and ICICI Bank by 2.6 per cent.

Hindalco, JSW Steel, Coal India, Bharti Infratel and Tech Mahindra too traded with a negative bias. But FMCG majors ITC, Nestle India and Britannia were in the positive zone along with Cipla and Sun Pharma.

Meanwhile, Asian share markets got off to a shaky start as the spread of coronavirus led investors to question the optimism on the global economy.

MSCI's broadest index of Asia Pacific shares outside Japan eased by 0.2 per cent while Japan's Nikkei shed 1.5 per cent and South Korean stocks 1.4 per cent. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to International Travel News.

More Information

25 ℃

Mostly Cloudy in Seletar

Hospitality

Section

Farmers network threatens court action against alcohol sales ban

According to Rossouw, wine farmers should not be treated as merely part of the wider group of alcohol producers. Rossouw ...

NV PLGU orients tourism stakeholders on MGCQ mode

BAYOMBONG, Nueva Vizcaya, July 15 (PIA) - The provincial government through the Provincial Tourism Office (PTO) in coordination with the ...

Vizcaya culture, arts body okays P4.4-M for IP culture-based programs

BAYOMBONG, Nueva Vizcaya, July 15 (PIA) - The Provincial Council for the Culture and the Arts (PCCA) recently cancelled its ...

Gov't continues to assist returning individuals

CAGAYAN DE ORO CITY, July 15 (PIA)-In the midst of coronavirus disease 2019 (COVID-19) health crisis, Assistant Secretary Jonjie Gonzales ...

SA Tourism lost over R800m in Covid-19 budget cuts

Minister of Tourism Mmamoloko Kubayi-Ngubane told Parliament's Portfolio Committee on Tourism that the impact of the Covid-19 pandemic on the ...

SA Tourism lost over R800 million in Covid-19 budget cuts

Minister of Tourism Mmamoloko Kubayi-Ngubane told Parliament's Portfolio Committee on Tourism that the impact of the Covid-19 pandemic on the ...

Travel and Tourism

Section

Movie Review

Tigerland

Tigerland [DVD]