Sensex sheds 355 pts; Nifty below 15,650; smallcaps bleed

Stock market updates: Domestic equity indices recovered half of their intra-day losses after US stock futures suggested Wall Street could be eyeing a healthy session later today, recouping from its worst drubbing in nearly nine months on Monday.

Nonetheless, the benchmark S&P BSE Sensex ended 355 points down at 52,198 levels while the Nifty50 shut shop at 15,632-mark, down 120 points. Hindalco, IndusInd Bank, Tata Steel, NTPC, Bharti Airtel, and uPL led the losses on the frontline indices while Asian Paints, UltraTech Cement, HUL, Grasim, Maruti Suzuki, and Bajaj Auto lent support. 

In the broader markets, the BSE MidCap and SmallCap indices slipped 1.3 per cent and 1.4 per cent, respectively.

In the global markets, mainstream indices in Japan, South Korea. and Australia declined in the range of 0.35 to 0.96 per cent. In Europe, the pan-European STOXX 600 index was last up 0.58 per cent.

4:24 PM

EXPERT TAKE :: Ajit Mishra, VP - Research, Religare Broking

We believe concerns over global economic recovery are worrying participants as the third wave of Covid is fast spreading. Besides, domestic cues are also not very encouraging so far. In short, we may see further slide ahead and Nifty may find support around 15,450 i.e. lower band of the prevailing consolidation range. Meanwhile, earnings will continue to provide opportunities to the traders however we suggest keeping a check on position sizing and focus on overnight risk management.

 

3:55 PM

MARKET VIEW :: S Ranganathan, Head of Research at LKP Securities

Even as Dalal Street felt the heat of a Wall Street sell-off yesterday, we saw good interest in select pockets like Cement & Paints. Also, a vibrant Primary Market is quite clearly reflective of private equity impact which is good for Corporate India. The broader markets however saw profit booking in Banks, Insurers & Asset Management Companies.

3:54 PM

MARKET CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Bears dominated D-street following overnight selling in global markets due to spread of the highly contagious Delta variant and fall in economic growth data. Sharp fall in crude price & US bond yields reflected the rising concern over fall in future growth. Vulnerability from premium valuations, upcoming FOMC meeting and selling by foreign investors exposed the Indian market. However, western markets attempted to recover from the sell-off which provided some comfort to the domestic market in between but selling continued.

3:54 PM

Tech View :: Rohit Singre, Senior Technical Analyst at LKP Securities

One more negative session with index closed a day at 15632 with loss of nearly one percent and formed a bearish candle on the daily chart for the second consecutive session.  The last two sessions wiped out full gains of last week also index has invalidated the ascending triangle structure, only positive sign is index managed to hold above the 15600 zone which hints if current levels are held then we may see some pullback in the upcoming session towards immediate hurdle zone of 15700-15770 zone and supports are still placed at 15600-15530 odd levels.

3:53 PM

Tata Motors slips 2% as Rakesh Jhunjhunwala cuts stake in firm in Q1

3:53 PM

Strong show by ACC drives cement stocks higher

3:50 PM

DCM Shriram tanks 9% post June quarter results

> DCM Shriram on Tuesday posted an over two-fold jump in consolidated net profit at Rs 157.5 crore for the quarter ended June 30, 2021.

3:48 PM

Adani Group stocks end in the red amid Sebi probe

3:46 PM

ACC rallies 7% on strong operational performance in Q2

3:44 PM

Result Impact :: Asian Paints jumps 6% on strong Q1 performance

Asian Paints reported a 161 per cent YoY rise in consolidated net profit to Rs 574 crore

 

3:40 PM

Broader markets lag benchmark in Tuesday's session

3:39 PM

Sector Watch :: Barring Nifty FMCG all sectoral indices end in the red

3:37 PM

Sensex Heatmap :: Top gainers & losers at close

> Best performers: Asian Paints, Ultratech, Bajaj Auto

> Worst laggards: IndusInd Bank, Tata Steel, Bharti Airtel

3:35 PM

CLOSING BELL

Sensex takes losing run to third straight day, sinks 355 points or 0.68% to 52,199. Its NSE counterpart Nifty settled at 15,632, down 120 points or 0.76% down. 

 

3:31 PM

June Quarter Result : Bajaj Finance

PAT: Rs 1,002.4 crore

NII: Rs 4,489 crore

NNPA: 1.46% vs 0.75% QoQ