At 11:26 IST, the barometer index, the S&P BSE Sensex, was down 228.57 points or 0.43% at 52,340.17. The Nifty 50 index was down 60.40 points or 0.38% at 15,667.40.
The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index was up 0.24% while the S&P BSE Small-Cap index was up 0.14%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1685 shares rose and 1285 shares fell. A total of 145 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 185,508,166 with 4,009,495 global deaths.
India reported 458,727active cases of COVID-19 infection and 405,939 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
More From This Section
The Union Cabinet has approved a new scheme India COVID-19 Emergency Response and Health System Preparedness Package: Phase-II amounting to Rs 23,123 crore for financial year 2021-22. The scheme aims at accelerating health system preparedness for immediate responsiveness for early prevention, detection and management, with the focus on health infrastructure development.
Economy:
The Union Cabinet has approved the proposal of allowing the Agriculture Produce Market Committees (APMCs) to use the one lakh rupees Agriculture Infrastructure Fund which has been announced as part of the Atmanirbhar Bharat Package. Addressing media in New Delhi, Agriculture Minister Narendra Singh Tomar said now APMCs will be eligible to get the benefits of this fund to improve their infrastructure. He said APMCs will be further strengthened and mandis will not be abolished.
Buzzing Index:
The Nifty Auto index slipped 0.45% to 10,408.50, falling for fourth consecutive trading session. The auto index lost 3% in four trading days.
Bajaj Auto (down 1.35%), Eicher Motors (down 1.17%), TVS Motor Company Ltd (down 0.78%) and Mahindra & Mahindra (down 0.66%), Bosch (down 0.6%), Cummins India (down 0.5%), Maruti Suzuki India (down 0.41%) and Escorts (down 0.37%) declined.
Stocks in Spotlight:
Central Depository Services (India) (CDSL) rose 2.38% after the depository said that it has become the first depository to open four crore plus active demat accounts. CDSL is currently the largest depository in the country in terms of active demat accounts.
JSW Steel rose 1.25%. The steel major announced that the group's combined crude steel production stood at 5.07 million tonnes registering a 65% year on year jump in Q1 FY22 from 3.07 million tonnes posted in Q1 FY21. On a sequential basis, the combined steel production grew 16% from 4.39 million tonnes reported in Q4 FY21. The capacity utilization at standalone level was at 91% in Q1 FY22 due to shortage of oxygen vis-vis 93% in Q4 FY21.
Global Markets:
Asian stocks were mixed on Friday as Covid worries resurfaced in the region.
China's consumer price index for June rose 1.1% as compared with a year ago, data from the country's National Bureau of Statistics showed on Friday. The producer price index for June rose 8.8% as compared with a year ago. The June PPI reading was a slight decrease in pace from the 9% increase in May.
Olympics organizers will ban spectators from the upcoming summer games in Tokyo, after a state of emergency for the city was declared by Japan on Thursday as the country sees rising Covid-19 cases. The state of emergency will last till August 22.
South Korea announced Friday that the greater Seoul area will be placed under the toughest social distancing rules of Level 4, as per reports. The city of Sydney earlier this week announced that Covid-19 restrictions would be extended by another week.
Wall Street lost ground on Thursday, with the S&P 500 and the Nasdaq pulling back from record closing highs in a broad sell-off driven by uncertainties surrounding the pace of the U.S. economic recovery.
Powered by Capital Market - Live News