Stock Market: Indian equities settle in red on rising Covid caseload
New Delhi: The Indian equity indices — S&P BSE Sensex and NSE Nifty50 — settled in the red on Thursday due to rising Covid-19 concerns, analysts said. Also, some investors booked profits after sizable gains in the recent past.
The Sensex and Nifty settled at 59,601 points and 17,748 points, respectively, down 1.03 per cent and 0.99 per cent from their previous close, respectively.
Barring a few sectoral indices such as consumer durables, PSU bank, media and auto, rest tanked during the session, NSE data showed.
On the stocks front, JSW Steel, Ultratech Cement, Shree Cement, Tech Mahindra, and Adani Ports stocks declined the most, falling 3.0 per cent, 2.7 per cent, 2.6 per cent, 2.5 per cent, and 2.1 per cent, respectively.
Whereas, UPL, Indusind Bank, Bajaj Auto, Bharti Airtel, Maruti Suzuki India rose the most on Thursday.
“Bulls were a bit restrained on the back of rising Covid cases and its impact on the fourth quarter corporate performance since it happens to be an important quarter for India Inc. The IT, and oil and gas index led the fall today with cement stocks too witnessing profit taking,” said S. Ranganathan, Head of Research at LKP securities.