D-Street Falls Second Day In A Row

The Indian benchmark indices extended their losses for the second day in a row on Tuesday, July 20. The U.S markets overnight also fell more than two per cent, while the Dow Jones posted its worst day in nine months. A rise in the Coronavirus cases globally is keeping the sentiment under the table, experts said.

Back home, at 9:51 AM, the BSE Sensex was down 344.57 points at 52,208.83, while the Nifty-50 was down 105.90 points at 15,646.50. The 30-share pack Sensex saw declines in 18 shares, while only 12 shares saw buying interest.

Shares of HCL Tech stood as the top loser in the pack, declining over two per cent each. The company was in major focus post they announced their Q1 results yesterday. HCL Tech reported a 12.48 per cent growth Y-o-Y in their net sales at Rs 20,068.00 crore.

HDFC Bank, Bharti Airtel, and M&M were other top losers for the Sensex, declining over a per cent each. Shares of HDFC Bank have declined heavily post the company's Q1 results.
As the earnings session moves ahead, companies like Bajaj Finance, ICICI Securities, ICICI Prudential Life Insurance Company, CRISIL, Shyam Metallics and Energy, and Kohinoor Foods among others will release their quarterly results today.

Tracking the inflows and outflows for the previous session, FIIs were net sellers of shares worth Rs 2,198.71, while the DIIs bought shares worth Rs 1,047.66 in the cash segment of the Indian equity market.

Taking the market sentiment into the discussion, experts were of a view that markets have consolidated sharply after reaching all-time highs in recent times. However, the dips were later bought into, said experts. Investors are suggested to closely monitor any movement in the coming days as the market is currently a tug of war between the bulls and bears, experts added.

"It would be a tough fight between the Bulls and Bears in the coming days and one needs to remain watchful of possible movement in either direction," said an expert.