The key equity indices continued to trade with minor cuts in mid-morning trade. The Nifty was trading a tad above the 15,650 mark. Metal stocks extended losses for the fourth day.
At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 49.08 points or 0.09% to 52,269.52. The Nifty 50 index lost 16.95 points or 0.11% to 15,663.05.
In the broader market, the S&P BSE Mid-Cap index shed 0.01% while the S&P BSE Small-Cap index rose 0.74%.
The market breadth was strong. On the BSE, 1826 shares rose and 1164 shares fell. A total of 128 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 182,593,659 with 3,954,820 global deaths.
India reported 523,257 active cases of COVID-19 infection and 399,459 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Buzzing Index:
The Nifty Metal index slipped 0.62% to 5,175.05. The index has lost 2.19% in four sessions.
MOIL (down 1.48%), SAIL (down 1.46%), APL Apollo Tubes (down 1.38%), Tata Steel (down 1.23%), JSW Steel (down 1.21%) and Welspun Corp (down 1.12%) declined.
Meanwhile, Nalco (up 1.86%) and Coal India (up 0.72%) gained.
NMDC lost 0.79% at Rs 183. While the state-owned miner's iron ore production climbed 18.25% to 2.98 million tonnes (MT), iron ore sales jumped 28.23% to 3.18 MT in June 2021 over June 2020.
Global Markets:
Most Asian markets were trading lower as investors turned cautious ahead of the U.S. jobs report set to be released later in the day today.
In Europe, German retail sales figures for May and Euro zone's producer prices data for the month of May are due before the bell today.
The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.
The number of Americans applying for unemployment aid fell again last week. The Labor Department reported Thursday that jobless claims dropped by 51,000 to 364,000.
The International Monetary Fund raised its 2021 U.S. growth projection sharply to 7% due to a strong recovery from the COVID-19 pandemic and an assumption that much of President Joe Biden's infrastructure and social spending plans will be enacted.
The IMF's latest forecast, marking the fastest U.S. growth pace since 1984, compares with an April projection of 4.6% growth in 2021. The Fund raised its 2022 U.S. GDP growth forecast to 4.9%, up from its previous 3.5% April forecast.
On Thursday, following two days of talks, 130 countries pledged support for the U.S. proposal of a global minimum corporate tax of 15%.
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