INSUBCONTINENT EXCLUSIVE:
Gains in pharma and consumer goods shares offered some support to the markets
Domestic
stock markets fell more than 2 per cent on Friday amid volatile trade, as the country entered the tenth day of a 21-day nationwide lockdown
to curb the spread of the coronavirus pandemic
The S-P BSE Sensex index fell as much as 764.52 points to hit 27,500.79 on the downside, having started the day up 358.22 points at
The broader NSE Nifty benchmark declined to as low as 8,055.80 in late afternoon deals, down 198 points from the previous close
While the majority of sectors remained in the negative territory for most part of the session, gains in pharmaceutical and consumer goods
shares offered some support
Both benchmark indices trimmed some of those losses by the end of the session, though still adding to a 4 per cent fall in the
other hand, Sun Pharma, Cipla, ITC, GAIL and ONGC - ending between 6.16 per cent and 9.58 per cent - were the top Nifty gainers.The Nifty
Bank index - comprising stocks of 12 major lenders in the country - finished with a loss of 5.27 per cent, having slumped 5.85 per cent
coronavirus cases continue to spook global markets, weak GST collections and expected widening of fiscal deficit are adding to concerns
about an already-struggling economy back home," Anita Gandhi, director at Arihant Capital Markets, told TheIndianSubcontinent.Active
coronavirus cases in India rose to 1,860 as of Thursday evening, government data showed, while 53 died from the infection.Meanwhile, the
Reserve Bank of India trimmed the timings for currency and debt markets by up to 5 hours in view of the coronavirus (COVID-19) pandemic
The new timings - from 10:00 am to 2:00 pm will be in effect from April 7 to April 17.Equities elsewhere in Asia continued to decline, with
MSCI's Asia-Pacific index outside Japan dipping 0.15 per cent after oil prices retreated from their highest single-day rise in the
previous session.Brent crude futures - the global benchmark for crude oil - were last seen trading 3.27 per cent lower at $28.96 per barrel,
after having soared 21 per cent on Thursday.Global coronavirus cases surpassed 1 million on Thursday with more than 52,000 deaths
