New Delhi: Stock markets opened deep in the red on Monday in tandem with global markets. The BSE Sensex fell over 1400 points in opening while the NSE Nifty slipped below 9,450.
Automobile, banking and financial stocks is expected to remain in focus on Monday.
Maruti Suzuki India, Hyundai Motor India Ltd (HMIL), Mahindra & Mahindra (M&M), Toyota Kirloskar Motor (TKM) and MG Motor India reported Zero sales forthe month of April in the wake of lockdown to tackle the COVID-19 Pandemic.
Here are the stocks in major focus
Maruti
The country's largest carmaker Maruti Suzuki India (MSI) on Friday said it did not sell a single unit in the domestic market last month. It, however, exported 632 vehicles after Mundra port in Gujarat resumed operations.
Stocks of banking stocks will also remain in focus as last weeks Fitch Ratings viability ratings (VR) of some banks like State Bank of India (SBI), ICICI Bank and Axis Bank
SBI, ICICI Bank, Axis Bank
Fitch Ratings on Thursday downgraded the viability ratings (VR) of State Bank of India (SBI), ICICI Bank and Axis Bank to 'bb' from 'bb+' on account of deteriorating operating environment for banks amid the COVID-19 pandemic. The global rating agency also downgraded Bank of Baroda's (BOB) VR by one notch to 'bb-', from 'bb'. The agency affirmed the long-term issuer default ratings (IDR) of SBI and BOB at 'BBB-' and those of ICICI Bank and Axis Bank at 'BB+'.
With PTI Inputs
