Sensex Ends 110 Points Lower; Smallcap & Midcap Stocks Outperform

Indian share markets witnessed volatile trading activity throughout the day today and ended marginally lower, ahead of Q2 GDP data.

Benchmark indices traded on a volatile note, swinging between gains and losses, following muted trends in Asian peers.

The sentiment was weighed on renewed doubts about a highly-anticipated coronavirus vaccine.

British drugmaker AstraZeneca's coronavirus drug was touted as a "vaccine for the world" due to its inexpensive cost, but the efficacy of the vaccine is now facing more intense scrutiny, which experts say could delay its approval.

At the closing bell, the BSE Sensex stood lower by 110 points. The NSE Nifty ended down by 18 points.

Asian Paints was among the top gainers today. Power Grid, on the other hand, was among the top losers today.

SGX Nifty was trading at 13,069, up by 82 points, at the time of writing.

The BSE Mid Cap index ended up by 1.9%. The BSE Small Cap index zoomed 2.4%.

Sectoral indices ended on a mixed note with stocks in the realty sector and consumer durables sector witnessing buying interest. Energy and IT stocks, on the other hand, witnessed selling pressure.

Market participants were also tracking automobile stocks today ahead of the November month sales numbers, which release next week.

Shares of Cummins India, Tata Motors, and TVS Motor Company gained over 5% while Ashok Leyland, Motherson Sumi Systems, Bajaj Auto, Balkrishna Industries, Exide Industries, and Amara Raja Batteries from the BSE auto index gained in the range of 3-5%.

Asian stock markets ended on a positive note. Japan's Nikkei stock average ended at its highest since April 1991 as it rallied for the fourth session in a row, buoyed by hopes of economic recovery and strong corporate earnings, after progress in Covid-19 vaccine development.

The rally was driven by progress in vaccine-related developments, with many investors expecting their delivery next year.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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