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Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
06 July, 2025 12:05 IST
Sensex ends 102 points lower for the fourth day
Source: IRIS | 22 Oct, 2021, 05.37PM
Rating: NAN / 5 stars.
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   Indian equities continued to decline  for the fourth day on Friday. Weakness was seen in metals, IT, auto, pharma and FMCG stocks. On the other hand, banks and financial stocks gained.

At the close, the benchmark 30-share index, BSE Sensex declined 101.88 points or 0.17% at 60,821.62 with 6 components posting drop.  Meanwhile, the broad based NSE Nifty fell by 63.20 points or 0.35% at 18,114.90 with 17 components posting drop.

Biggest gainers in the 30-share index were HDFC (2.11%), Bajaj Auto (1.81%), IndusInd Bank (1.21%), Kotak Mahindra Bank (1.19%), ONGC (1.13%), Axis Bank (0.98%), Bajaj Finserv (0.55%) and Titan (0.54%).

On the other hand, ITC (3.39%), Maruti Suzuki (2.12%), Infosys (1.96%), NTPC (1.93%), HCL Technologies (1.45%), Tata Steel (1.43%), Mahindra & Mahindra (1.25%), Nestle (1.23%) and TCS (0.94%) were the major losers in the Sensex. Market breadth was negative with 1,315 advances against 1,983 declines.

Sentiments took a hit after the media reported that China has started shutting down schools, cancelling flights and ramping up mass testings following a new outbreak of Covid 19. Both Sensex and Nifty snapped 2-week gaining streak and slipped 1% each while Midcap Index snapped 8-week gaining streak; falls over 4% - recording the biggest weekly fall in a year. Banks outperformed this week with Nifty Bank rising over 2%.

India's PM in its press meeting today addressed country about economic growth getting a boost from rising vaccinations across the country. India's immunisation campaign hit a milestone of 1 billion vaccinations on Thursday. The country has covered three-quarters of its 944 million adults with at least one dose but only 31% with two.

Global cues were weak as some of the US biggies disappointed with their results while confusion seems to prevail over how the Democratic Party intends to fund its spending promises. Further the 10-year bond yield has hit 1.7% for the first time since May. Fed Chairman Jerome Powell would address the nation later today given the bond yield spike which investors would analyse for any hint with regards to the future pace of interest rate hikes. On the positive side, China Evergrande somehow managed to avoid formal default by repaying interest due, thus leading to rise in prices of Chinese real estate equity stocks.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said, "The market consolidation is likely to continue in near term given weak global cues and mixed earnings so far - affected by cost inflationary pressure and supply side issues on margin. With skyrocketing valuations, many stocks prices have moved beyond comfort zone thus leaving very little margin of safety. On Monday investors would react to Reliance and ICICI Bank results along with global cues. Powell speech today would be keen tracked too. We would suggest traders to stay safeguarded, while investors should adopt cash deployment in staggered fashion."

 

   

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