The benchmark indices incurred small losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, lost 32.40 points or 0.06% at 55,550.18. The Nifty 50 index shed 22.80 points or 0.14% at 16,540.25.
The Sensex hit a record high of 55,688.50 while Nifty hit a record high of 16,591.40 in early trade.
ICICI Bank (down 1.17%), HDFC Bank (down 0.84%) and Larsen & Toubro (L&T) (down 1.62%) were major drags.
The broader indices were trading almost flat. The S&P BSE Mid-Cap index rose 0.09%. The S&P BSE Small-Cap index fell 0.03%.
Sellers outnumbered buyers. On the BSE, 973 shares rose and 2,110 shares fell. A total of 127 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,088.32 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 506.21 crore in the Indian equity market on 16 August 2021, provisional data showed.
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COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 20,78,67,008 with 43,71,589 deaths. India reported 3,69,846 active cases of COVID-19 infection and 4,32,079 deaths while 3,14,48,754 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
More than 88.13 lakh vaccine doses were administered in the last 24 hours. 55.47 crore vaccine doses have been administered so far under nationwide vaccination drive. India reports 25,166 new cases in last 24 hours, lowest in 154 days. Active cases constitute 1.15% of total cases, lowest since March 2020. India's Active caseload currently 3,69,846, lowest in 146 days. Recovery rate currently at 97.51%, highest since March 2020.
Gainers & Losers:
Tech Mahindra (up 3.13%), Tata Consumer Products (up 2.59%), HCL Technologies (up 2.02%), Nestle India (up 1.65%) and Infosys (up 1.62%) were major gainers in Nifty 50 index.
Tata Motors (down 2.83%), Coal India (down 2.57%), JSW Steel (down 2.44%), UPL (down 2.31%) and Mahindra & Mahindra (M&M) (down 1.82%) were major losers in Nifty 50 index.
Global Markets:
Shares in Europe and Asia declined on Tuesday, 17 August 2021. The ongoing coronavirus pandemic and spread of the highly transmissible delta COVID-19 variant has rattled investors confidence. Oil prices erased earlier gains on Tuesday amid persistent worries about the outlook for global fuel demand.
Investors are also monitoring the potential geopolitical implications following the Taliban's seizure of Kabul, the capital city of Afghanistan. U.S. President Joe Biden rejected blame for the scenes of turmoil and panic as thousands of people were seen at a Kabul airport desperately trying to flee.
Biden described the anguish of those trapped in the country as "gut-wrenching" and conceded the Taliban's lightning offensive had occurred more quickly than expected. His comments came amid mounting criticism of his administration's handling of the situation.
Investors continued to monitor the COVID-19 situation in Australia, with the country's largest cities currently under lockdown.
In US, stocks ended at records Monday with the Dow and S&P 500 closing at record highs despite earlier losses tied to weaker-than-forecast Chinese economic data and the Taliban takeover of Afghanistan.
Investors will look ahead to U.S. retail sales data, set to be released Tuesday stateside by the Census Bureau.
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