Market LIVE: Sensex holds above 49,000, Bank Nifty falls 1%, smallcaps outrun; Kotak Bank, ONGC shares fall

Barring Nifty Pharma index, all the sectoral indices were trading in the red.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading nearly one per cent down on Tuesday, taking cues from their global peers. BSE Sensex was trading just above 49,000, while the broader Nifty 50 index was above 14,800. IndusInd Bank, ONGC, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank, M&M, ICICI Bank, Maruti Suzuki were among top Sensex losers. Sun Pharma, Nestle India, Dr. Reddy’s Laboratories were trading up to 1.15 per cent higher. Barring the Nifty Pharma index, all the sectoral indices were trading in the red. Nifty Metal index fell the most, down over 2 per cent, followed by the Nifty PSU Bank index.

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Rating agency Crisil on Monday said that India’s GDP growth rate could fall to 8.2 per cent in the financial year 2021-22, assuming that the second COVID-19 wave will reach a peak number of cases by June end. Earlier in April, the rating agency had projected India’s GDP to grow 11 per cent in FY22. The report added that in case the COVID-19 pandemic infections reach a peak number of cases by May-end, the GDP growth will drop to around 9.8 per cent. The report added that the intensity of the second wave of COVID-19 infections in India has come as a surprise, and is haemorrhaging the country’s healthcare infrastructure. That has made lockdowns and restrictions inevitable.

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