Nifty Ends The Day Flat, Bharti Airtel Top Loser

Despite strong global cues across Asia and Europe, Indian markets ended the day marginally lower. Worries over the constant rise in Covid 19 cases across India, continued to dampen sentiments. By the end of the day, it is highly likely that Covid 19 cases across the country may cross 1.5 lakh cases.

The Sensex ended the day marginally lower by 63 points, while the Nifty ended the day with losses of 10 points. Most Asian markets gained more than 2 per cent in trade, after reports that American biotech firm Novamax has started the first human study of its experimental coronavirus vaccine

Among the top Nifty losers in trade today were Bharti Airtel, Bajaj Finserv, TCS, Bajaj Finance and Sun Pharma. Among the top gainers from the Nifty were Eicher Motors, JSW Steel, Titan Company and Ultratech Cement.

Shares in HDFC ended the day almost 1 per cent lower, following a drop in net profits for the quarter ending March 31, 2020.

Shares in Bharti Airtel ended almost 6 per cent lower, after Bharti Telecom, the parent company of Bharti Airtel, revealed plans to raise $1 billion by selling shares in the mobile phone operator through a block deal at Rs 558.

Avenue Supermarkets saw its shares locked at the lower end of the circuit filter despite reports that consolidated net profit for the March quarter rose 41.6 per cent to Rs 271.28 crore.