Markets end with minor losses; Sensex losses 19 points & Nifty settles above 15,800 mark

Top Gainers & Losers on Nifty 50
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Top Gainers & Losers on Nifty 50 (FIle/Photo)

Highlights

Domestic equity markets paired the early gains after hitting a fresh intraday high today and closed in a red by the end of the day on Tuesday, July 6, 2021.

Domestic equity markets paired the early gains after hitting a fresh intraday high today and closed in a red by the end of the day on Tuesday, July 6, 2021. The S&P BSE Sensex lost 18.82 points or 0.04 per cent and settled at 52,861.18. The Nifty 50 index fell 16.10 points or 0.10 per cent to close at 15,818.25. However, the Nifty Bank index gained 367.15 points or 1.04 per cent to end at 35,579.15.

In the broader markets, the BSE MidCap index settled 0.19 per cent higher while the BSE SmallCap index closed 0.26 per cent lower.

The market breadth was negative. On the BSE, 1598 shares rose and 1,660 shares fell. On the Nifty 50 index at NSE, 19 shares advanced and 31 shares declined. The top five gainers on Nifty 50 were UltraTech Cement (up 3.23 per cent), Shree Cement (up 3.01 per cent), HDFC Bank (up 2.44 per cent), Bajaj Finance (up 2.16 per cent) and SBI Life (up 1.50 per cent). The top five losers were Tata Motors (down 8.52 per cent), Tech Mahindra (down 2.29 per cent), Coal India (down 1.50 per cent), TCS (down 1.43 per cent) and M&M (down 1.25 per cent).

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 18,41,54,287 with 39,84,582 deaths. India reported 4,64,357 active cases of COVID-19 infection and 4,03,281 deaths while 2,97,52,294 patients have been discharged, data showed.

Indian Economy

Gross GST revenue collected in June 2021 was at Rs 92,849 crore of which CGST was at Rs 16,424 crore, SGST was at Rs 20,397, IGST came at Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and cess was at Rs 6,949 crore (including Rs 809 crore collected on import of goods).

OPEC+ Ministers Meet

Opec+ ministers called off oil output talks on Monday after clashing last week when the United Arab Emirates rejected a proposed eight-month extension to output curbs, meaning no deal to boost production has been agreed.

Monetary Stimulus in Australia

Australia's central bank took the first steps toward winding back emergency monetary stimulus for an economy that has exceeded forecasts. Governor Philip Lowe opted against extending the yield-target horizon and scaled back purchases of longer-dated bonds, the Reserve Bank said in a statement on Tuesday after keeping interest rates unchanged. Once the current A$5 billion a week quantitative easing programme ends in September, it will shift to A$4 billion a week with a review in mid-November. RBA is determined to stay near the tail of global central banks unwinding emergency stimulus -- particularly the Fed -- even as Australia has recovered earlier and faster than many peers.

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