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Indian bourses continued to trade in red zone in afternoon session as selling appeared in Metal, Telecom and Oil & Gas stocks with Sensex and Nifty down by 58 and 45 points, respectively. Traders were worried as private report stated that the government's strategic divestment plans for the fiscal year 2021-22 has slowed down due to the second wave of COVID-19. During the Budget presented in February, the government set an ambitious disinvestment target of Rs 1.75 lakh crore for FY22. On the global front, Asian markets were trading mixed after minutes showed some Federal Reserve officials contemplating a wind-down of its vast monetary easing measures, while optimism remained buoyed by the outlook for the economic recovery.

The BSE Sensex is currently trading at 49,844.12, down by 58.52 points or 0.12% after trading in a range of 49781.48 and 50099.17. There were 11 stocks advancing against 19 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index rose 0.66%, while Small cap index was up by 0.92%.

The top gaining sectoral indices on the BSE were Realty up by 2.53%, Power up by 1.78%, Healthcare up by 1.17%, Capital Goods up by 0.68% and Consumer Durables was up by 0.66%, while Metal down by 3.10%, Telecom down by 1.49%, Oil & Gas down by 1.10%, Basic Materials down by 1.03% and Auto was down by 0.94% were the top losing indices on BSE.

The top gainers on the Sensex were Dr. Reddys Lab up by 0.78%, Mahindra & Mahindra up by 0.73%, Tech Mahindra up by 0.56%, Bajaj Auto up by 0.45% and Nestle was up by 0.39%. On the flip side, ONGC down by 3.02%, Bharti Airtel down by 2.29%, Kotak Mahindra Bank down by 1.91%, Bajaj Finserv down by 1.58% and Bajaj Finance was down by 1.53% were the top losers.

Meanwhile, Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya has said that the government is monitoring the supply of various 'protocol drugs' like Remdesivir, Enoxaparin, MethylPrednisolone, Dexamethasone, Tocilizumab and Ivermectin used in the treatment of COVID-19. Besides, supply of other drugs like Favipiravir, Amphotericin and Apixamab is also being monitored. He noted that all drugs used in the management of COVID-19 were now available in India by ramping up production and increasing the imports. The availability of these drugs is being monitored by implementing a three-pronged strategy of supply chain management, demand-side management and affordability.

The minister has stated that the Central Drugs Standard Control Organisation (CDSCO) and the National Pharmaceutical Pricing Authority (NPPA) are coordinating with manufacturers to enhance production and getting data about current stock, current capacities, projected production for May 2021. He noted that the number of plants producing Remdesivir has been increased from 20 to 60, resulting in three times more availability in just 25 days.

Mandaviya further said the government has also enhanced the availability of Tocilizumab injection in the country by importing 20 times more than what was being done in normal times. Besides, production of Dexamethasone (0.5 mg) tablets and injection have been ramped up. Also, production of other critical medications like Enoxaparin Injection, Methylprednisolone Injection, Ivermectin (12 mg) tablet, Favirpiravir, and Amphoterecin B Injection has been enhanced.

The CNX Nifty is currently trading at 14,985.00, down by 45.15 points or 0.30% after trading in a range of 14960.50 and 15069.80. There were 15 stocks advancing against 35 stocks declining on the index.

The top gainers on Nifty were Mahindra & Mahindra up by 0.45%, Power Grid up by 0.28%, Bajaj Finserv up by 0.10%, Tata Consumer Products up by 0.09% and NTPC was up by 0.09%. On the flip side, Wipro down by 0.82%, Tata Motors down by 0.72%, Coal India down by 0.60%, Indian Oil Corporation down by 0.56% and Cipla was down by 0.54% were the top losers.

Asian markets were trading mixed; Taiwan Weighted dropped 90.30 points or 0.56% to 16,042.36, KOSPI fell 10.77 points or 0.34% to 3,162.28, Hang Seng decreased 141.63 points or 0.5% to 28,452.18 and Shanghai Composite was down by 1.13 points or 0.03% to 3,509.83.

On the flip side; Nikkei 225 surged 53.80 points or 0.19% to 28,098.25, Straits Times advanced 14.96 points or 0.48% to 3,119.17 and Jakarta Composite was up by 47.01 points or 0.82% to 5,807.59.

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