Equity indices close in the red, financials and metals decline
Jul 10, 2020
Mumbai (Maharashtra) [India], July 10 : Traders booked profit and equity benchmark indices ended marginally lower on Friday following a decline in global peers amid surging coronavirus cases.
The BSE S&P Sensex settled 143 points or 0.39 per cent lower at 36,594 while the Nifty 50 sank by 45 points or 0.42 per cent at 10,768.
Sectoral indices at the National Stock Exchange were mixed with Nifty PSU bank down by 2.6 per cent, private bank by 2.3 per cent, financial service by 1.9 per cent and metal by 0.7 per cent.
Among stocks, private lender Axis Bank slipped by 3.2 per cent to close at Rs 439.20 per share. ICICI Bank was down by 2.8 per cent, IndusInd Bank by 2.7 per cent and State Bank of India by 1.8 per cent.
The other prominent losers were HDFC, JSW Steel, GAIL, Titan and Adani Ports.
However, Reliance Industries jumped by 3.1 per cent to wind up the day at Rs 1,881 per share. Sun Pharma closed 2.2 per cent higher while FMCG majors Hindustan Lever, Britannia and Nestle India were up by 2.5 per cent, 1.5 per cent and 0.4 per cent respectively.
Tata Consultancy Services was up by 0.78 per cent to Rs 2,221.65 per share despite reporting nearly 14 per cent fall in its net profit at Rs 7,008 crore in the first quarter of the current financial year (Q1 FY21).
Meanwhile, Asian shares fell as record-breaking new coronavirus cases in several US states raised concerns that new lockdowns could derail an economic recovery.
Japanese stocks declined by 1.06 per cent while Hong Kong's Hang Seng tumbled by 1.84 per cent and South Korea's Kospi by 0.81 per cent.
Shares in China fell by 1.95 per cent, the first decline in more than a week, as investors booked profits on a surge in equities to a five-year high.
