Markets Trade Flat After Monday’s Carnage

Benchmark indices were trading little changed, following an 800 point drop on the Sensex on Monday, amidst covid-19 worries and banking allegations.

The Sensex was trading with losses of 5 points, while the Nifty was lower by 2 points in early trade. On Monday markets saw a sharp fall as worries of Covid-19 infections in Europe and banking allegations across the globe surfaced.

Most banking stocks which had witnessed relentless selling on Monday, managed to settle a tad bit higher. Stocks like ICICI Bank and and IndusInd Bank managed to hold onto gains. The Bank Nifty was marginally higher in trade.

GMM Pfaudler saw its shares drop 10 per cent after reports that the promoter will sell 25.71 lakh shares via offer for sale at Rs 3,500 per share. The stock was locked at the lower end of the circuit filter.

Indiabulls Housing Finance saw its shares higher after reports that the company's Employees Welfare Trust bought 27 lakh shares in company at Rs 156.95 per share.

In the primary market, Angel Broking IPO is slated to open today at a price band of Rs 305 to Rs 306. Meanwhile, in Asia, Australia's ASX 200 declined 0.78 per cent while South Korea's Kospi fell 1.45 per cent in Tuesday's early deals. The Hong Kong's Hang Seng was also trading marginally lower.