Equity indices edge lower as virus cases mount, Coal India top loser

Equity benchmark indices traded with a bearish bias on Monday amid jittery global cues as coronavirus cases continue to surge across several countries including India.

Equity benchmark indices traded with a bearish bias on Monday amid jittery global cues as coronavirus cases continue to surge across several countries including India. Selling pressure aggravated for realty, PSU banks and metal stocks as investors drove funds to safer assets with flickering hopes of early economic recovery.

The BSE S&P Sensex closed 210 points or 0.6 per cent lower at 34,962 while the Nifty 50 edged lower by 71 points or 0.68 per cent at 10,312. Except for Nifty FMCG, all sectoral indices at the National Stock Exchange were in the negative zone with Nifty realty down by 3.5 per cent, PSU bank by 3.3 per cent and metal by 2.6 per cent.

Among stocks, Coal India was the top loser after slipping by 4.9 per cent to Rs 135.05 per share. Axis Bank dropped by 4.7 per cent while State Bank of India was down by 2.8 per cent. IT majors Tech Mahindra, Wipro and Infosys edged lower by 3.1 per cent, 2.7 per cent and 2.2 per cent respectively while Hindalco, Bharat Petroleum Corporation and Larsen & Toubro too traded in the negative zone.

However, FMCG stocks gained with Britannia up by 2.1 per cent, ITC and Hindustan Lever by 1.2 per cent each. Meanwhile, Asian share markets were on shaky ground as the spread of coronavirus led investors to question the optimism on the global economy.

Japan's Nikkei shed 2.3 per cent, Hong Kong's Hang Seng fell by 1.01 per cent and South Korean Kospi slid by 1.93 per cent. (ANI)