Yesterday, Snapping its four-day rising streak, Nifty surrendered all early gains to plunge 166 points (1.6%) to close at 10305. The fall was on the back of a sell-off in financial stocks and weak cues from global markets. #MOMarketUpdates
During the day, Nifty touched an intra-day peak of 10553 and a low of 10282. Traders were booking profit after the Nifty and Bank Nifty gained 6% and 10% in the last four trading sessions. #MOMarketUpdates
Moreover, European markets declined 2% and US Futures shed 1% as the concern of the spread of coronavirus continued to cloud prospects for an economic recovery. Banking stocks witnessed sharp selling pressure and remained the biggest loser today. #MOMarketUpdates
Bank Nifty lost over 800 points (4%) today nosedived over 1100 points from its day’s high of 22479. There was all-round selling in the market on a highly volatile day ahead of tomorrow's June series of F&O expiry. #MOMarketUpdates
Cement, Metal, FMCG, Tech, and NBFC stocks witnessed profit booking. However, Paints stocks recorded a smart rally on account of impressive results announced by Asian Paints and Berger Paints. #MOMarketUpdates
Berger Paints gained 5% to close at Rs541 and Asian Paints gained 4% to close at Rs1747. #MOMarketUpdates
