Today Indian markets witnessed a muted start and slowly recovered. Now both Sensex and Nifty 50 trading with .5% gains at 12:25pm. Stocks like Indusind bank, Vedanta, Hindalco, TCS, Kotak Bank, Shree Cement, HCL Tech, Ultratech Cement and HDFC are trading with good gains in the morning trade while stocks like Hero Motors, Gail, Bajajfinsv, ONGC and Tata steel are dragging the index with more than 1.5% loss.
Indian markets recovered a lot from its recent low on 23rd March due to the corona virus covid 19 fear. Now markets are in a consolidated mode and many brokerages said they don’t expect any big movement from this level. Corona cases in India also increasing exponentially even though Govt relaxed lock down and allowed train and domestic air traffic. Even though most of the businesses started functioning still uncertainty prevails in most sectors due this alarming spread of the corona virus disease. So at this juncture it is not a good idea to put all your money in the markets. Better keep some cash in hand and also book profits and cut losses regularly in this kind of situation. Hope things will stabilize in India also soon like many western countries.