- Title: Indian shares run out of steam after 4-day rally, surging virus cases weigh
- Date: 7th July 2020
- Summary: MUMBAI, MAHARASHTRA, INDIA (JULY 07, 2020) (ANI - NO USE INDIA) BOMBAY STOCK EXCHANGE (BSE) BUILDING TICKER SHOWING STOCK MOVEMENT VARIOUS OF PEOPLE OUTSIDE BSE (SOUNDBITE) (Hindi) MARKET EXPERT, SUNIL SHAH, SAYING: "Market movement is flat today. However, we saw that it recovered well after it had slumped to 26,000 something in March for investors. Although, most of the recovery is in large cap and benchmark indices, this is the trend. First the improvement is in large cap funds and then it percolates in mid and small caps. I think the stock rally would be broader in the coming time." TICKER SHOWING STOCK MOVEMENT BSE BUILDING / PEOPLE OUTSIDE BUILDING
- Embargoed: 21st July 2020 08:22
- Keywords: Bombay Stock Exchange India Mumbai NIFTY coronavirus recovery sensex stock market
- Location: MUMBAI, MAHARASHTRA, INDIA
- City: MUMBAI, MAHARASHTRA, INDIA
- Country: India
- Topics: Economic Events
- Reuters ID: LVA001CLT8F9R
- Aspect Ratio: 16:9
- Story Text: Indian shares traded little changed on Tuesday (July 07) after a four-session rally as COVID-19 cases climbed unchecked, with losses in energy firms wiping out gains notched by finance and IT stocks.
The NSE Nifty 50 index was down 0.02% to 10,761.45 by 0512 GMT, while the benchmark S&P BSE Sensex was up 0.06% at 36,510.87. Both indexes gained around 4.5% in the last four sessions, hitting their highest in four months.
Coronavirus cases in the world's second-most populous country jumped to 719,665 by Tuesday morning, including 20,160 deaths, health ministry data showed. India on Monday (July 06) overtook Russia to become the third-most affected country by the novel coronavirus.
The Nifty has rallied more than 40% from a four-year low hit in March, when virus fears had gripped markets.
Sentiment was also tempered as Asian stocks hit a speed bump following their recent rally. - Copyright Holder: ANI (India)
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