Six stocks out of 30 Sensex stocks settled in a positive territory today, with Nestle India as the top gainer, up 4.49 per cent, followed by Tech Mahindra, Axis Bank and HUL Halting the 4-day gaining streak, Nifty 50 index settled nearly 5 per cent down in Monday’s volatile session as the novel coronavirus cases continued to dictate market movement in India and elsewhere. S&P BSE Sensex ended over 1,300 points down while the broader Nifty 50 index finished below the crucial 8,300 level. “During the afternoon session markets have shown some recovery but failed to sustain the strength and sold off near closing session as traders remained concerned with reports of Icra expecting India’s gross domestic product (GDP) to contract by 4.5% in the April-June 2020 quarter and will rise by only 2% in 2020-21 on the coronavirus impact, despite the Reserve Bank of India’s (RBI) massive actions to spur the economy.
Nifty50 closed lower at 8281.10 level, -379.15 points, or -4.38 per cent. Nifty Support : 8200 and 8100 Resistance : 8400 and 8500.
