Sensex, Nifty dip; IDFC First jumps 11 per cent, Bharti Airtel gains, Adani Green slips 4 per cent

The domestic markets turned volatile during Thursday’s trading session. Sensex tumbled by around 465 points from its day’s high of 48,558.34. Compared to its previous close, the index declined by 0.17 per cent or 80.74 points to settle at 48,093.32 levels. On the other hand, Nifty slipped by 0.06 per cent or 8.90 points to close at 14,137.35 levels.  

Ahead of the announcement of the advance estimate of gross domestic product (GDP) for the entire FY21, the profit booking across stocks led the benchmark indices to settle in negative territory on Thursday.  

IT and FMCG stocks were the worst hit, followed by pharma stocks. The metal stocks ended higher with increasing demand for the sector thereby, giving a boost. Soon after Maharashtra Government cleared a proposal to cut levies on real estate projects by 50 per cent, the realty shares witnessed an upward momentum.   

Market experts continue to believe that despite today’s dip, which is second in a row, the market breadth remains in favour of the bulls and a ‘buy-on-dips’ approach is perfect for the current market conditions.  

The global markets remained positive on potential democratic control of the US Senate and increasing prospects for further economic US stimulus measures. Asian indices such as Shanghai Composite index, Nikkei and KOSPI rose by 0.71 per cent, 1.60 per cent, and 2.14 per cent, respectively.  

In the European markets, indices such as DAX and CAC 40 were trading in the green, up 0.67 per cent and 0.55 per cent, respectively whereas, FTSE 100 fell by 0.40 per cent.  

Sensex gainers included Bharti Airtel that jumped 3.75 per cent, IndusInd Bank rose by 3.22 per cent, Axis Bank surged 2.48 per cent, Bajaj Finserv increased by 2.31 per cent, Larsen & Toubro went up by 1.92 per cent, Bajaj Finance gained 1.09 per cent, SBI increased by 1 per cent, etc.  

Sensex losers consisted of Titan Company that plunged 2.03 per cent, Nestle India slumped 2 per cent, HUL went down by 1.97 per cent, Infosys fell by 1.53 per cent, HCL Technologies declined by 1.38 per cent, ITC decreased by 1.31 per cent, etc.  

Amongst sectoral indices on BSE, the metal index was the biggest gainer, up by 3.70 per cent, followed by the telecom index that gained 2.99 per cent. FMCG index was the biggest loser, declining by 1.07 per cent. The broader markets outperformed as BSE Small-Cap index and BSE Mid-Cap index surged by 0.85 per cent and 1.05 per cent, respectively.