Sensex Trades On A Volatile Note; HCL Technologies & Bajaj Finance Top Losers

Share markets in India are presently trading on a volatile note, tracking mixed global cues as coronavirus cases continue to surge across the world.

Sectoral indices are trading on a mixed note with stocks in the IT sector and consumer durables sector witnessing most of the selling pressure.

Healthcare stocks, on the other hand, are witnessing buying interest.

The BSE Sensex is trading down by 108 points (down 0.3%), at 36,500 levels.

Meanwhile, the NSE Nifty is trading down by 25 points (down 0.2%).

The BSE Mid Cap index is trading up by 0.2%. The BSE Small Cap index is trading up by 0.4%.

Gold prices are currently trading down by 0.1% at Rs 48,749.

The rupee is trading at 75.01 against the US$.

Moving on, market participants are tracking chemical stocks today.

Shares of companies in the chemicals, commodities, and specialty chemicals space are witnessing buying interest today amid reports that the government is planning to offer tax incentives to promote 'Make in India' for the chemical sector.

Shares of Tamilnadu Petroproducts, IG Petrochemicals, Thirumalai Chemicals, Sudarshan Chemical Industries, Himadri Speciality Chemical, National Peroxide, GHCL, and Nocil are trading up in the range of 5-15%. These stocks had rallied up to 20% yesterday.

Meanwhile, shares of Navin Fluorine, Neogen Chemicals, and Ultramarine & Pigments hit their respective 52-week highs today.

As per media reports, the government is expected to offer tax incentives of 100% for the first five years while the same will be limited to 75% for the next five years and 50% for five years thereafter.

The government may also infuse capital between 10% and 20%.

Moving on to news from the FMCG sector, Hindustan Unilever (HUL) and Emami are among the top buzzing stocks today.

FMCG major HUL has got a temporary relief from the Bombay High Court after Emami was told to give HUL seven days of advance notice before initiating legal proceedings on its trademark "Glow and Handsome".

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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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