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MARKET LIVE UPDATES: Bears dragged equities lower on Thursday as fears of a global slowdown amid Covid-19 fears in China and likely recession in the US and Europe weighed on cyclical sectors. Defensives like pharma and IT, however, lent support.
Autos, financials, metals, and realty stocks led the losses with up to 2 per cent cut on their respective sectoral indices. The S&P BSE Sensex was off lows, but still down over 250 points at 60,830, while the Nifty50 index was testing 18,100.
Tata Motors, Bajaj Finserv, Tata Steel, Bajaj Finance, Axis Bank, M&M, IndusInd Bank, NTPC, L&T, Titan, ITC, Tech M, and Wipro were among the top laggards on the Sensex, down up to 2.6 per cent.
Sun Pharma, Bharti Airtel, Kotak Bank, Infosys, and Maruti Suzuki, meanwhile, held gains.
In the broader markets, the BSE MidCap index fell 0.91 per cent, while the SmallCap index dropped over 1 per cent.
Sula Vineyards has made a tepid stock market debut, with its shares listed at Rs 361, a 1 per cent premium to its issue price of Rs 357 per share on the National Stock Exchange (NSE) on Thursday. The stock of breweries & distilleries company opened almost on par at Rs 358 on the BSE. READ MORE
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