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Sensex, Nifty open flat as investors worry about rising coronavirus infections

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At around 9:30 am, BSE Sensex was hovering just above the 34,000-mark while NSE Nifty 50 was trading 0.60 per cent higher. However, it seems that markets are witnessing increased fluctuations due to uncertainty over sharp rise in coronavirus cases in India. 

The reopening of economic activity has boosted optimism among Dalal Street investors, but they are also spooked by the sharp rise in coronavirus cases in India. (Photo: Reuters)

HIGHLIGHTS

  • Domestic markets opened marginally higher on Wednesday
  • Market benchmarks Sensex and Nifty conitnue to fluctuate in early trade
  • IndusInd Bank emerged as the top gainer in morning trade

Domestic market saw increased volatility during the morning trading session on Wednesday as investors remain worried about the rising coronavirus cases in India.

At around 9:30 am, BSE Sensex was hovering just above the 34,000-mark while NSE Nifty 50 was trading 0.60 per cent higher. However, it seems that markets are witnessing increased fluctuations due to uncertainty over sharp rise in coronavirus cases in India.

Some of the top performers in morning trade were IndusInd Bank, Kotak Mahindra Bank, HCL Tech, HDFC, ITC and Asian Paints. Meanwhile, the major laggards were Gail, Tata Steel, Hero MotoCorp, L&T, Bajaj Finance, JSWSteel and BPCL.

Almost all Nifty sectoral indices were trading positive apart from Nifty Auto, IT, Media and Metal.

It may be noted that subdued momentum in Asian markets also pulled down domestic markets ahead of the US Federal Reserve meeting. Global investors remain worried over renewed doubts about economic recovery.

The reopening of economic activity has boosted optimism among Dalal Street investors, but they are also spooked by the sharp rise in coronavirus cases in India.

India has now registered over 2.76 lakh coronavirus cases and over 7,700 people have died.

READ | Stocks rise on hope that worst of economic plunge has passed

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IndiaToday.in has plenty of useful resources that can help you better understand the coronavirus pandemic and protect yourself. Read our comprehensive guide (with information on how the virus spreads, precautions and symptoms), watch an expert debunk myths, and access our dedicated coronavirus page.
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