Sensex, Nifty extend losses amid weak global cues; L&T, Titan under pressure

In the pre-market opening session, Sensex and Nifty stood at 39613.70 and 11647.20 down 0.77% and 0.70% respectively.

Oct 29, 2020 09:10 IST India Infoline News Service

Businessman protect his piggy bank from bear market
The Indian stock market maintained selling bias on Thursday as well, tracking weak global counterparts. At around 09.21 AM, the Nifty50 was trading at 11,633.60, down 96 points or 0.82%. While Sensex was performing at 39,633.05 lower by 289.41 points or 0.72%.

A broad-based sell-off was witnessed across sectoral indices with industrials, auto, capital goods, consumer durables, metal, banking and FMCG stocks under pressure. Midcap and small-cap indexes have tumbled near 1%.

At around 9.16 AM, the BSE Sensex was at 39613.70, down 308.76 points or 0.77% and the Nifty performed at 11635.60 below 94 points or 0.80%.

In the pre-market opening session, Sensex and Nifty stood at 39613.70 and 11647.20 down 0.77% and 0.70% respectively.

Gainers list on Sensex included stocks like Ultratech Cement, Axis Bank, Asian Paint and Bajaj Finserv surging by 1% each. Heavyweight RIL was on a flat note.

Meanwhile, L&T led the underperforming stocks list, trading at Rs939.40 perp piece down 4.5%. Titan, Tech Mahindra, Bajaj Auto, ONGC and SBI were also among biggest losers slumping between 2-4%.

Stocks that will remain in focus are RBL Bank, Axis Bank, L&T, Hero MotoCorp, NTPC, Cipla and Max India among others.

Companies that are set to announce their financial performance for September 2020 (Q2FY21) quarter are - Maruti Suzuki, BPCL, Bank of Baroda, Canara Bank, Havells India, Vodafone Idea, InterGlobe Aviation, Tata Chemicals, TVS Motor Company, AAVAS Financiers, Aegis Logistics, Apollo Pipes, Arvind, Astec Lifesciences, Bajaj Healthcare, Blue Dart Express, Cholamandalam Investment and Finance Company, Coromandel Engineering, Gateway Distriparks, Great Eastern Shipping, Himadri Speciality Chemical, JK Paper, Laurus Labs, Mastek, Mahindra Holidays, MRPL, PTC India Financial Services, Security and Intelligence Services, Shriram Transport Finance, Strides Pharma Science, Surya Roshni, Vaibhav Global, Welspun Corp, Welspun India and Zensar Technologies. These companies will also remain in focus on Thursday.

Asian stock markets continued to witness lower trend also on Thursday, however, the losses were not as sharp as selloff is in Wall Street overnight. Meanwhile, oil bounced off lows, whereas US futures advanced as Asia's brighter economic outlook offset investor worries over fresh COVID-19 lockdowns in Europe.

MSCI's broadest index of Asia-Pacific shares outside Japan dived 1%. While Japan's Nikkei slipped 0.8%. 

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