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Sensex Corrects Over 750 Points; HDFC & HDFC Bank Fall 4%
Fri, 30 Apr 02:30 pm

Share markets in India have extended losses and are presently trading deep in the red.

Benchmark indices tanked today tracking weak Asian cues, rising Covid cases and hiccups in vaccination.

Asian share markets ended lower as investors struggled to take the lead from a record performance on Wall Street and following below-forecast Chinese factory data.

The US Food and Drug Administration said it will not release AstraZeneca's coronavirus vaccine for export to other countries until it is sure the doses have been manufactured to US quality standards and will be safe and effective, as per a government official.

The BSE Sensex is trading down by 742 points, down 1.2%. Meanwhile, the NSE Nifty is trading down by 191 points.

Stocks from the banking sector, financial sector and FMCG sector are the biggest laggards.

Shares of HDFC and HDFC Bank fell over 4%, while ICICI Bank, HUL, and M&M fell over 2.5%.

The BSE Midcap index is trading down by 0.4% while the BSE Smallcap index is trading up by 0.2%.

Exide Industries share price is in focus today as the company reported a 36% increase in consolidated net profit at Rs 3.2 billion in the fourth quarter ended March riding on robust sales growth.

In his latest video for Fast Profits Daily, Brijesh Bhatia, Research Analyst at Equitymaster, talks about why he thinks it's a good time to buy smallcaps and why the upside could be huge.

You can watch the video here: Time to Buy Smallcaps?

More details to follow in the upcoming commentary.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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