Sensex, Nifty extend slide; auto shares edge lower
Published on Jul 27, 2021 14:23
The domestic equity barometers traded with significant losses on fresh selling in index pivotals in mid afternoon trade. The Nifty index was trading below 15,750 mark. Auto shares declined for third consecutive session.
At 14:23 IST, the barometer index, the S&P BSE Sensex, was down 346.89 points or 0.66% to 52,505.38. The Nifty 50 index lost 103.05 points or 0.65% to 15,721.40.
In the broader market, the S&P BSE Mid-Cap index slipped 0.83% while the S&P BSE Small-Cap index shed 0.39%.
Sellers outnumbered the buyers. On the BSE, 1416 shares rose and 1795 shares fell. A total of 118 shares were unchanged.
The second wave of COVID-19 may have a more lasting damage on the Indian economy and exports will once again be the foundation for recovery, Moody`s Analytics said on Monday.
The Delta variant of COVID-19 is among factors now adversely affecting economies of the Asia-Pacific (APAC) region, but the economic hit from the current round of movement restrictions in the region will not be as severe as the recessions in the second quarter of last year.
In India, where exports make up relatively small shares of the economy, high commodity prices have boosted the value of exports. This is one factor that helped reinvigorate India after its first devastating wave of COVID-19.
Numbers to Track:
In the foreign exchange market, the partially convertible rupee fell to 74.5075 compared with its previous closing of 74.4225.
MCX Gold futures for 5 August 2021 settlement added 0.04% to Rs 47,482.
The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was up 0.15% to 92.79.
The yield on 10-year benchmark federal paper rose to 6.175% from its previous close of 6.169%.
In the commodities market, Brent crude for September 2021 settlement rose 22 cents or 0.30% to $74.72 a barrel. The contract added 0.56% or 40 cents to settle at $74.50 in the previous trading session.
The Nifty Auto index slipped 0.57% to 10,080.30, extending decline for third day. The index has lost 1.52% in three sessions.
Tata Motors (down 0.97%), Mahindra & Mahindra (down 0.85%), TVS Motor Company (down 0.61%), Hero MotoCorp (down 0.54%), Eicher Motors (down 0.45%), Ashok Leyland (down 0.41%), Maruti Suzuki (down 0.37%), Bajaj Auto (down 0.32%) and Bharat Forge (down 0.30%) declined.
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