Sensex, Nifty 50 trade flat; Banking stocks underperform; HUL, ITC, Sun Pharma top gainers

In terms of sectoral indices, on BSE, the Bankex index has plunged more than 513 points so far since the opening bell.

Apr 09, 2021 09:04 IST India Infoline News Service

Bear and Bull
Indian markets traded lower in Friday's bell despite global stocks witnessing record level. Banking stocks were the worst hit and major dragger of the benchmarks Sensex and Nifty 50. In the opening bell, Sensex has dipped by at least 246 points with an intraday low of 49,499.99. Meanwhile, Nifty 50 has tumbled to an intraday low of 14,806.35.

Investors focus has now shifted to March 2021 (Q4FY21) quarterly result with major IT giants like TCS, Infosys and Wipro set to announce their financial performance for the quarter next week.

Notably, the domestic equities shrugged off the rally in global stocks which was driven after US Federal Reserve Chairman Jerome Powell assured that the central bank may reinvigorate the economy without fueling painful inflation.

At around 09.43 am, Sensex was trading at 49,709.26 down by 36.95 points or 0.07%. While Nifty 50 was performing flat at 14,873.55.

Sensex gainers were - Hindustan Unilever (+2.4%) followed by Sun Pharma (+1.9%) and ITC (+1.2%). Other stocks like HDFC, ONGC, Titan, SBI, Ultratech Cement and Bajaj Auto advanced between 0.5-1%.

However, on Sensex, Bajaj Finance was the top underperformer tumbling by nearly 2%. Stocks like L&T, Asian Paint, IndusInd Bank, ICICI Bank and HDFC Bank plunged between 0.5-1%.

In terms of sectoral indices, on BSE, the Bankex index has plunged more than 513 points so far since the opening bell. 

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