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Share Market Updates: Sensex Rises Nearly 400 Points, Nifty Reclaims 15,800 Led By Banking Shares
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Sensex, Nifty Decline Led By Losses In Banking, Financial Services Shares Selling pressure was broad-based as nine of 11 sector gauges compiled by the National Stock Exchange were trading lower.
Updated: July 09, 2021 9:47 am IST
The Indian equity moved lower on Friday on the back of weak global cues after Asian shares stumbled to two-month lows on Friday and were set for their worst weekly performance since February as confidence took a beating over the global spread of the Delta virus variant and worries it could stall a worldwide economic recovery. The Sensex fell as much as 341 points and Nifty 50 index fell below its important psychological level of 15,650 paced by losses in HDFC Bank, Reliance Industries, ICICI Bank, HDFC and Axis Bank.
How are blue chips doing
After opening in the red, benchmark indices fell further. At 9.37 am, BSE flagship Sensex was down 260 points or 0.49 per cent to 52,309. NSE benchmark Nifty fell 71 points or 0.45 per cent to 15,657.
In the 50-share pack Nifty, Tata Steel was the biggest gainer, up 1.64 per cent. JSW Steel, Dr Reddy’s Labs, Cipla, Divi’s Labs, Adani Ports, Sun Pharma and
Axis Bank was the top loser in the pack, down 1.37 per cent.
Eicher Motors, TCS, HDFC, ICICI Bank, Shree Cement, IndusInd Bank, HDFC Bank, Bajaj Auto and
Reliance Industries were other losers in the pack.
Factors driving markets
LIVE BLOG
Economic Times | 09 Jul, 2021 | 08.28PM IST
RIL, financials and weak global cues weigh on Sensex; Nifty slips below 15,700; Infibeam tanks 3%, Tata Steel climbs 4%
Benchmark indices continued to fall for the second day on Friday as weak global cues kept investors on the sidelines. Rapid pace of vaccination in India capped the losses. Banking stocks were at the forefront of selling. Auto and financial services stocks als dragged indices. However, metal stocks were in demand, providing support to the indices. The 30-share pack Sensex dropped 182.75 points or 0.35 per cent to close at 52,386.19. Its broader peer NSE Nifty fell 38.10 points or 0.24 per cent to 15,689.80.
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