After the imposition of restrictions by the Maharashtra government, Delhi also announced a weekend curfew to tame the spread of the deadly virus. The market is becoming more cautious as states are increasing restrictions due to the havoc created by the virus, said an analyst.
The 30-share pack Sensex advanced 259.62 points or 0.53 per cent to close at 48,803.68. The index traded in an 877.3-point range during the day. Its broader peer NSE Nifty rose 76.65 points or 0.53 per cent to settle at 14,581.45.
“Growth-oriented sectors and stocks are losing momentum while defensives like pharma, FMCG and IT are gaining. However, states will not opt for a complete lockdown like last year, but high valuation will lead to a phase of short-term consolidation,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance
- VIP Industries falls 1% after Rakesh Jhunjhunwala cuts stake sharply in Q4
- Infosys falls over 2% following March-quarter results
- TCS bounces back with a 4% jump, emerging top bluechip gainer
- Fear gauge India VIX rises 2%
- Auto stocks end lower as Maharashtra restrictions seen impacting output
