Sensex closes flat; Asian Paints leads losses

Domestic markets continued to experience extreme volatility even in today's trading session following the F&O expiry. Banking stocks dragged down the markets during the morning trading session while FMCG contributed towards gains. Sensex slipped into the negative territory again during the last half hour of the trading session and settled at 34,842.10, falling by 26.88 points or 0.08 per cent and even Nifty closed in red, down by 16.40 points or 0.16 per cent at 10,288.90.

Investors continue to stay cautious as IMF revises it GDP growth outlook for India stating that the economy is expected to contract by 4.5 per cent in FY21. Crude oil price fell as a result of increase in US crude inventories.

Global indices portrayed mixed sentiments as FTSE 100 was trading down by 0.17 per cent whereas DAX and CAC 40 were trading in green, up by 0.24 per cent and 0.14 per cent respectively. Amongst Asian indices, Shanghai index gained by 0.30 per cent whereas Hang Seng fell by 0.50 per cent, Nikkei decreased by 1.22 per cent and South Korea's KOSPI slipped by 2.27 per cent.

Sensex winners comprised ITC soaring by 5.45 per cent, Kotak Mahindra Bank rallying by 2.75 per cent, Bajaj Finance increasing by 2.35 per cent, HUL rising by 2.04 per cent, ICIC Bank gaining by 0.79 per cent, etc. Sensex losers included Asian Paints declining by 3.30 per cent, Infosys dropping by 2.04 per cent, HCL Technologies dipping by 1.71 per cent, ONGC decreasing by 1.62 per cent, Mahindra & Mahindra which fell by 1.59 per cent, etc.

Amidst BSE sectoral indices, FMCG was the biggest gainer, up by 2.25 per cent while IT was the biggest loser, down by 1.55 per cent. The broader markets outperformed the equity indices as BSE small-cap index and BSE mid-cap index gained by 0.76 per cent and 0.62 per cent respectively.