Domestic benchmarks ended with steep losses; Sensex fell 0.64% & Nifty 50 ends at 15,635

Sensex climbs 174 points; Nifty closes at 15,799

Sensex climbs 174 points; Nifty closes at 15,799


Domestic stocks markets fell more than half a per cent amid mixed global cues on Wednesday, June 9, 2021.

Domestic stocks markets fell more than half a per cent amid mixed global cues on Wednesday, June 9, 2021. The losses were led by the weaknesses in banks and auto shares. The Sensex closed below the 52,000 mark while the Nifty settled below the 15,700 level.

The S&P BSE Sensex declined 333.93 points, or 0.64 per cent, to finish at 52,941.64. The Nifty 50 at the National Stock Exchange also fell 104.75 points, or 0.67 per cent, to close at 15,635.35. The Nifty Bank index lost 284.80 points, or 0.81 per cent, to settle at 34,800.50.

In the broader market at BSE, the S&P BSE MidCap and SmallCap indices ended the session 0.71 per cent and 0.95 per cent lower, respectively.

The market breadth was negative. On the BSE, 1,465 shares rose and 1,722 shares fell. On the Nifty 50 index on NSE, 11 shares advanced and 39 shares declined. The top five gainers on Nifty were PowerGrid (up 3.93 per cent), SBI Life (up 1.75 per cent), NTPC (up 1.55 per cent), Titan (up 0.88 per cent) and Coal India (up 0.77 per cent). The top five losers were Tata Motors (down 2.61 per cent), Adani Ports (down 2.43 per cent), Shree Cement (down 2.02 per cent), Larsen & Turbo (down 1.83 per cent) and Reliance (down 1.65 per cent).

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 17,40,01,158 with 37,47,385 deaths. India reported 12,31,415 active cases of Covid-19 infection and 3,53,528 deaths while 2,75,04,126 patients have been discharged, data showed.

Indian Economy

The World Bank, on June 8, 2021, projected India's economy to grow at 8.3 per cent in 2021. Earlier, the World Bank had estimated the Indian economy to grow at a pace of 10.1 per cent in FY22. Citing the reason to slash the FY22 growth of the Indian economy, the global lending and monitoring body said that India has been hampered by the largest outbreak of Coronavirus cases that any country has seen since the beginning of the pandemic.

China's factory-gate prices

China's factory-gate prices increased at the fastest pace since September 2008, official data showed on Wednesday, while consumer inflation also accelerated but at a slower-than-expected rate. The producer price index (PPI) rose 9.0 per cent from a year earlier in May, according to a statement from the National Bureau of Statistics.

The US Trade Deficit

The US trade deficit dipped by $6.1 billion to $68.9 billion in April, slightly larger than expected, as exports rose and imports fell, according to Commerce Department data. The World Bank on Tuesday upgraded its growth forecast, with the global economy now expected to grow 5.6 per cent in 2021.

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