Benchmark indices closed flat today amid concerns over the economic impact of the second wave of COVID-19. While Sensex ended 41 points higher at 48,732, Nifty fell 18 points to 14,677.
Asian Paints was the top Sensex gainer, rising over 8 per cent, followed by ITC, Nestle India, L&T, HUL and Reliance Industries.
Asian Paints share rose over 10% today after the firm reported 81.13 per cent rise in its consolidated net profit in Q4. The company reported a net profit of Rs 480.25 crore during the January-March quarter of the previous fiscal.
On the other hand, top Sensex losers were IndusInd Bank, M&M, Dr Reddy's, SBI and NTPC falling up to 2.82%. "Indian equity markets remained largely range bound over the last week. The COVID situation in India is no doubt grim and hence the health issue is something that could keep markets volatile in the near term," said Shibani Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra AMC.
Going forward, market will likely track the pace of vaccinations, trajectory of active cases curve and management commentary of companies. Rollback of localised lockdowns and trend of inflation in many global commodities like crude oil and steel will be other key factors to watch out for, she noted.
Of 30 Sensex stocks, 20 ended in the red. Metal stocks led the losses with BSE metal index losing 703 points to 18,777. BSE auto and BSE bankex also fell 455 points and 299 points respectively.
Nagaraj Shetti, Technical Research Analyst at HDFC Securities said, "The short-term trend of Nifty is choppy with weak bias. The present market action signal chances of an upside bounce in the coming sessions. The confirmation of higher bottom at 14,591 (Friday's Low) is expected to pull the market on upside. The next upper levels to be watched are around 14,900-15,000 in one week. Immediate support is placed at 14,590."
Market cap of BSE-listed firms stood at Rs 210.60 lakh crore. BSE mid cap and small cap indices fell 237 points and 265 points, respectively.
Asian shares were mostly higher on Friday after Wall Street snapped a three-day losing streak with a broad stock market rally powered by big tech companies and banks. Japan's Nikkei 225 added 2.3% to 28,084.47 and the Kospi in Seoul picked up 1% to 3,153.32.
In Hong Kong, the Hang Seng advanced 1% to 27,993.06. The Shanghai Composite index gained 1.7% to 3,486.50 while Australia's S&P/ASX 200 was 0.5% higher at 7,014.20. The S&P 500 gained 49.46 points to 4,112.50.
The Dow Jones Industrial Average rose 1.3% to 34,021.45. The Nasdaq climbed 0.7% to 13,124.99.