Broader market stocks continued to see demand from investors as the rapid rate of vaccinations and a gradual reopening of the economy gave a boost to hopes of recovery in earnings as well.
The 30-share pack Sensex declined 189.45 points or 0.36 per cent to close at 52,735.59. Its broader peer NSE Nifty dropped 45.65 points or 0.29 per cent to 15,814.70. Both indices hit their fresh record high levels before wiping those gains.
“After opening at a record high, the domestic markets slipped into the negative zone tracking cues from global peers due to a spike in Covid cases across Asia. FM’s announcement was focused on the Covid-19 relief package mainly for healthcare and stressed sectors, which will benefit the broad economy,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- Finolex Industries jumps 6% after a strong show in Q4
- India Glycols surges 9% after posting manifold jump in Q4 profit
- IPO debuts: Dodla Dairy up 42%, KIMS gains 20%
- Power Mech Projects spikes 5% after co bags Rs 9,300 cr order
- Thyrocare Tech slumps 9% after PharmEasy announces takeover
