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Sensex closes 186 pts lower, Nifty at 15,748; PSU banks, metals top drags

Market closing: Indian indices closed over 0.35% lower on Tuesday. (MINT_PRINT)Premium
Market closing: Indian indices closed over 0.35% lower on Tuesday. (MINT_PRINT)

  • Market closing: Benchmark Indian equity indices closed over 0.35% lower on Tuesday. The Sensex closed at 52,549.66, down 185.93 points, or 0.35%, while the Nifty was at 15,748.45, down 66.25 points, or 0.42%. FMCG, pharma closed in green on Tuesday

Sensex, Nifty were down 0.35% and 0.42% respectively at day's close on Tuesday. Pharma and FMCG stocks were the outliers on a day when most sectors were in red, with the banking sector taking the biggest hit a day after the finance minister announced a slew of relief measures including xpansion of the ECLSG. Ins ome positive news, drug manufacturer Cipla reportedly recived the DGCI's nod for import of Moderna vaccine by way of donations. Asian stocks closed lower on Tuesday. All eyes will be on the release of China's state data on factories on Wednesday.

29 Jun 2021, 03:43:53 PM IST

Market closing

Benchmark Indian equity indices closed over 0.35% lower on Tuesday. The Sensex closed at 52,549.66, down 185.93 points, or 0.35%, while the Nifty was at 15,748.45, down 66.25 points, or 0.42%. FMCG, pharma closed in green on Tuesday. On the 30-share Sensex, PowerGrid, HUL, Dr Reddy's, and 10 other stocks closed in green, while ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, and 14 other stocks closed in red.

Sensex at close
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Sensex at close
29 Jun 2021, 03:26:46 PM IST

Govt currently facilitating only donated Moderna vaccines: report

Cipla has not reached a deal for commercial imports, CNBCTV18 reported citing people familiar with the matter.

29 Jun 2021, 03:24:54 PM IST

NLC India trades lower

NLC India's stock was trading at 60.50 apiece, down 4.57% at 3:24 pm on Tuesday. On Monday, the company reported a nearly 52% jump in consolidated profit to 756.83 crore for the quarter ended on 31 March. The company had posted a consolidated profit of 498.12 crore in the year-ago period, NLC India said in a filing to BSE. Consolidated income of the PSU in the January-March period increased to 3,550.48 crore from 3,405.14 crore in the year-ago period, the filing said.

29 Jun 2021, 03:22:57 PM IST

Gold futures fall on low demand

Gold prices fell 244 to 46,764 per 10 gm in the futures trade on Tuesday as speculators reduced their positions amid low demand. On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by 244, or 0.52%, to 46,764 per 10 gm in a business turnover of 11,154 lots. Analysts attributed the fall in gold prices to trimming of positions by participants. Globally, gold traded 0.68% lower at $1,768.60 an ounce in New York. (PTI)

29 Jun 2021, 03:21:21 PM IST

IHCL to expand food delivery platform Qmin

Tata group hospitality firm Indian Hotels Company Ltd (IHCL) is planning to expand the reach of its food delivery platform, Qmin, targeting presence in 25 cities over the next two years. Qmin has also introduced the Qmin Food Truck service to cater to the need of on-the-go meals in Mumbai and plans to bring it to metro cities across India, including Bangalore and Delhi, followed by tier-two cities. (PTI)

29 Jun 2021, 03:19:10 PM IST

FMCG, Pharma, gain

Nifty sectoral indices
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Nifty sectoral indices
29 Jun 2021, 03:15:51 PM IST

IRFC Q4 net profit rises 126% to ₹1,482.5 crore

Indian Railway Finance Corporation (IRFC) on Tuesday reported a Q4 standalone net profit at 1,482.5 crore as compared to 654.6 crore in the same quarter last year. The revenue witnessed a growth of 39% at 4,455 crore as against 3,205 crore year-on-year (YoY). Shares of IRFC surged after the earnings announcement as it was up nearly 5% to 25.95 per share on the BSE on Tuesday. (Read here)

29 Jun 2021, 03:14:35 PM IST

Cipla gets DGCI nod to import Moderna vaccine

Cipla's stock was trading at 985.25, up 2.35% at 3:14 pm.

29 Jun 2021, 03:10:42 PM IST

Devas joins Cairn in trying to seize Air India’s overseas assets

Devas Multimedia Pvt., a company seeking over $1.2 billion it won in international arbitration from India, has joined Cairn Energy Plc in seeking to seize Air India Ltd.’s assets abroad. Calling the flagship airline an “alter ego" of the Indian state and therefore liable for the sovereign’s debts, Devas filed a petition in New York asking Air India to pay the amount or forfeit its US property including planes, cargo handling equipment and artwork. (Bloomberg)

29 Jun 2021, 03:04:33 PM IST

Marico gains as Credit Suisse maintains buy on the stock

Marico was trading at 535.10 apiece, up 5.22% at 3:03 pm. Global brokerage firm Credit Suisse maintained its bullish stance on the stock owing to the company’s rising revenues and growth opportunities ahead. The brokerage maintained 'buy' rating on the stock and increased the target price to 600 per share from 490 earlier.

29 Jun 2021, 03:01:21 PM IST

Outstanding dues of private power gencos to hit a four-year low: Crisil

In a boost to the Indian power sector, the outstanding dues of private generation companies (gencos) are expected to come down to a four-year low of fewer than 100 days and below the pre-pandemic levels, said Crisil Ratings in a statement on Tuesday. (Read here)

29 Jun 2021, 02:34:32 PM IST

Subros gains

Subros Ltd's stock was trading at 315.75 apiece, up 1.38%. The company reported March quarter consolidated profit of 262.4 million compared to 166.5 million a year ago. The company's March quarter consolidated revenue from operations climbed to 6.6 billion from 4.58 billion a year ago.

29 Jun 2021, 02:20:24 PM IST

Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking on base metals

In yesterday’s trading session, base metals on the LME traded lower with Nickel posting the highest losses amongst the pack. A stronger dollar and marginal growth in China’s industrial profits pressured the industrial metals. Soaring raw material prices dented manufacturing sector margins in May and hampered growth in China’s industrial sector. In May, factory gains climbed up by 36.4% year-on-year (y-o-y), after reporting a 57% growth in April. Also, China announcing to sell metals from its national reserves to nonferrous processing and manufacturing firms through a public auction remained a considerable headwind for base metals.

29 Jun 2021, 02:13:33 PM IST

IndusInd, Yes Bank in green

Nifty Private Bank index
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Nifty Private Bank index
29 Jun 2021, 01:59:44 PM IST

Blue Star may hike prices from mid-Aug: report

Home appliances are likely to get costlier from 1 July, CNBCTV18 reported citing an industry report. Sales in white goods segment have been lower by 15-20%. B Thiagarajan, MD at Blue Star, said the air conditioner manufacturer will 'end up increasing the prices' in the middle of August.

29 Jun 2021, 01:59:45 PM IST

Yash Gupta, equity research associate, Angel Broking maintains 'buy' on Apollo Hospitals

Apollo Hospitals announced the reorganization of back-end pharmacy and 24/7 business through slump sale. Apollo Hospitals created a new company with name Apollo HealthCo Ltd in which business of back-end pharmacy, Apollo 24/7, pharmacy retail and other private labels will be transferred on a slump sale basis. Apollo Hospitals has created “India’s largest omnichannel digital healthcare platform" which combines the strengths of Apollo group’s offline healthcare leadership with Apollo group’s new age digital offerings to address all healthcare consumer needs with an asset light approach. We maintain our 'Buy' rating on Apollo Hospital, increasing target from 3,700 to 3,900.

29 Jun 2021, 01:51:15 PM IST

AWS signs multi-year digital agreement with Axis Bank

Amazon Web Services (AWS), the cloud computing arm of Amazon.com, said on Tuesday that it has signed a multi-year digital transformation agreement with Axis Bank Ltd, India’s third-largest private sector bank. Financial details of the agreement were not shared. As part of the agreement, Axis Bank will use AWS services, including containers, database, and compute, to build a portfolio of new digital financial services to bring advanced banking experiences to customers. The bank intends to facilitate the opening of online accounts in less than six minutes and instant digital payments, helping the bank increase customer satisfaction by 35% and lower costs by 24%. (Read here)

29 Jun 2021, 01:44:06 PM IST

Sensex heatmap

Bajaj FInance, Nestle India, IndusInd Bank top gainers
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Bajaj FInance, Nestle India, IndusInd Bank top gainers
29 Jun 2021, 01:29:58 PM IST

Welspun Corp Jan-Mar net profit jumps 49% to ₹223 cr

Welspun Corp Ltd has reported more than 49% jump in consolidated net profit at 222.95 crore for the quarter ended March 31, 2021, mainly on account of lower expenses. The company had posted a net profit of 149.24 crore, for the year-ago quarter from continuing operations, it said in a regulatory filing on Monday. Its total income during the period under review was at 1,909.86 crore, as against 2,775.26 crore in the January-March quarter of 2019-20 fiscal.

Total expenses came down to 1,655.44 crore in the March quarter this year, from 2,551.89 crore during the same quarter a year ago.

29 Jun 2021, 01:15:16 PM IST

Bajaj Healthcare gains

The company's stock was trading at 816.00 apiece, up 13.30% at 1:14 pm. Bajaj Healthcare Ltd has moved the Indian Patent Office for the grant of a compulsory license for manufacturing and supply of covid-19 drug “Baricitinib" (API and formulation). Currently, Eli Lilly and company has received Emergency Use Authorization (EUA) from US Food and Drug Administration (FDA) for the distribution and emergency use of “Baricitinib" to be used in combination with remdesivir in hospitalized adult and pediatric patients aged more than two years.

29 Jun 2021, 01:00:45 PM IST

Maruti, M&M top drags

Nifty Auto index
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Nifty Auto index
29 Jun 2021, 12:56:45 PM IST

India budget deficit seen widening on virus relief measures

India’s second wave of Covid-19 infections has set it on track to miss its budget deficit target for a fifth straight year. Increased spending on pandemic-relief measures, coupled with revenues weakened by pandemic restrictions, could widen the deficit by as much as one percentage point, according to estimates from six economists. Estimates by Nomura Holdings Inc. and Barclays Plc see the gap wider than 7% of gross domestic product for the current financial year, which started April 1. The government in its budget, released in February, estimated the gap at 6.8%. Mumbai-based Care Ratings Ltd. sees it widening to 7.8%. (Bloomberg)

29 Jun 2021, 12:43:04 PM IST

DCGI likely to approve Moderna's covid-19 vaccine soon for emergency use in those aged 18 and above

29 Jun 2021, 12:40:13 PM IST

Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking on crude oil

Yesterday, WTI crude prices ended lower by 1.54% to close at $72.9 per barrel. Increase in the number of infected cases in Asia, Australia and Europe paused the rally in oil prices on the first trading day of the week. Oil traded higher earlier in the months as optimism over a promising outlook and plummeting UScCrude inventories supported the prices. However, extension of lockdown in major Oil consuming nations halted the long rally in Oil prices. Markets will remain cautious ahead of the Organization of the Petroleum Exporting Countries and allies meet scheduled on 1 July, i.e., Thursday. The group is returning 2.1 million barrels per day in the global markets from May to July. Markets expect that the group might continue to ease production curbs imposed in 2020 following bets on boost in fuel demand in the months ahead.

29 Jun 2021, 12:31:38 PM IST

Ramco Systems to upgrade Yemeni firm's HR software

Ramco Systems will provide its next-gen enterprise resource planning (ERP) software to Yemen-based Aden Ports Development Co. at their Aden Container Terminal. The company's stock was trading at 617.95 apiece, up 3.36%.

29 Jun 2021, 12:21:20 PM IST

Alkem leads gains

Nifty pharma index
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Nifty pharma index
29 Jun 2021, 11:59:40 AM IST

GIC Housing gains

GIC Housing Finance Ltd was trading at 169.60 apiece, up 11.91% at 11:47 am. The company's board approved a 2,500 crore fundraise by issuing redeemable non-convertible

debentures through private placement upto 2,500 crore.

29 Jun 2021, 11:50:52 AM IST

PNC Infratech ends FY21 well; strong order book to help ahead

PNC Infratech Ltd’s March quarter results announced last week were strong led by better execution. Standalone EPC revenues have increased as much as 42% year-on-year to 1,644 crore, higher than analysts’ estimates. EPC is short for engineering, procurement and construction. The upshot: the company was able end the financial year 2021 (FY21) with marginally higher revenues vis-à-vis FY20. This looks good considering revenues for the nine-month ended December had declined by around 12% year-on-year. What’s more, PNC Infratech has told analysts it is looking at a 20% year-on-year growth in FY22 in its EPC revenues. (Read here)

29 Jun 2021, 11:41:52 AM IST

Godrej Consumer Products gains

The company's stock was trading at 881.60 apiece, up 1.40% at 11:41 am. Rating agency Icra upgraded Godrej Consumer Products Ltd's long-term rating to [ICRA]AAA (Stable) from [ICRA]AA+ (Stable) while reaffirming its short-term rating of [ICRA]A1+.

29 Jun 2021, 11:34:31 AM IST

NALCO ends FY21 on a strong note; FY22 holds promises too

National Aluminium Co. Ltd or NALCO scaled fresh highs on Tuesday gaining more than 3% after posting a nine-fold increase in net profits during the March quarter. The strong rise in Aluminium prices continues boosting the company’s performance supported well by revenues from the Alumina segment. The Aluminium prices on the London Metal Exchange or LME averaged at $2093 a tonne during Q4FY21 as against $1694 in the year-ago quarter. On a sequential basis too the prices were up 9%.

29 Jun 2021, 11:20:12 AM IST

Google restores services after multiple users face outage

Multiple users complained about an outage affecting Alphabet Inc's search engine Google as well as its streaming and email services late Monday before services were restored, according to outage monitoring website Downdetector.

Platforms including Google, YouTube, and Gmail were down, with users citing issues with login and accessing the website in parts of North America, according to Downdetector. More than a thousand users were having difficulties with the search engine at one point, the outage monitoring website showed, and users were also facing issues with YouTube TV and Google Drive. Reports of Google outage on Downdetector have dropped significantly to single digits early Tuesday. (Reuters)

29 Jun 2021, 11:18:43 AM IST

Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking on Gold

On Monday, Spot gold ended lower by 0.12% to close at $1,778.2 per ounce. The bullion metals scaled lower following the marginal gains in the US Dollar. However, lack of clarity on the US Federal Reserve’s approach in the times ahead kept the markets cautious. Markets will continue to have a keen eye on the upcoming economic data for cues on progress in the US economy. Gold prices sustained the significant losses from the earlier week after US Federal Reserve chairman Jerome Powell stated that rising inflation won’t be the sole factory behind rate hike decision. Also, bets on steady increase in price levels hinted a potential inflation which also kept Gold prices afloat. The yellow metal is widely considered an hedge against inflation.

29 Jun 2021, 11:05:55 AM IST

Cipla applies to DGCI for nod to import Moderna covid vaccine: report

Drug manufacturer Cipla has filed an application with the Drugs Controller General of India for permission to import Moderna's covid vaccine, CNBC TV18 reported. Based on evidence from clinical trials, in people aged 18 years and older, the Moderna vaccine was 94.1% effective at preventing laboratory-confirmed covid-19 infection in people who received two doses and had no evidence of being previously infected, according to the US Centres for Disease Control and Prevention.

29 Jun 2021, 11:01:38 AM IST

Dixon Tech gains

The electronics manufacturer's stock gained 0.35% to trade at 4,491.20 apiece at 10:59 am. On Monday, finance minister Nirmala Sitharaman announced that the government will extend the PLI scheme for large scale electronics manufacturing by one year until 2025-26.

29 Jun 2021, 10:56:25 AM IST

Facebook to publish interim compliance report as per IT rules on Jul 2

Social media giant Facebook on Tuesday said it will publish an interim report on 2 July as mandated by the IT rules, and provide information on the number of content it removed proactively between 15 May-15 June. The final report will be published on 15 July, containing details of user complaints received and action taken. The new IT rules—which came into force from 26 May—mandate large social media companies to publish periodic compliance reports every month, mentioning the details of complaints received and action taken thereon.

29 Jun 2021, 10:46:44 AM IST

PM Modi to chair Council of Ministers meeting tomorrow

PM Narendra Modi will chair the Council of Ministers meet tomorrow, News agency ANI reported. His meeting comes two days after Union Finance Minister Nirmala Sitharman announced several economic measures to revive the economy amid the COVID-19 pandemic. (Read here)

29 Jun 2021, 10:40:14 AM IST

Rupee falls 7 paise to 74.26 against US dollar in early trade.

29 Jun 2021, 10:27:38 AM IST

Banks, metal drag

Nifty sectoral indices
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Nifty sectoral indices
29 Jun 2021, 10:20:30 AM IST

It is raining credit guarantees, will it pour loans?

On Monday, the government brought in more sectors into its credit guarantee fold and increased the flagship emergency credit line guarantee scheme’s (ECLGS) total outlay by 1.5 trillion to 4.5 trillion. In essence, the government wants to ensure that businesses do not starve of funds they need to stay afloat in the wake of the adverse effects of the second wave... While the benefits of giving cheap and easy credit through guarantees are obvious, the proof of the pudding is in the eating. Will the bolstered guarantees result in a free flow of credit from banks? There are encouraging signs but some troubles too. (Read here)

29 Jun 2021, 10:12:40 AM IST

ICICI Bank, HDFC Bank top drags

Index contribution
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Index contribution
29 Jun 2021, 09:56:55 AM IST

Thomas Cook (India) gains

Thomas Cook (India) Ltd's stock was trading at 67.25 apiece, up 2.36% at 9:56 am. The company's unit Digiphoto Entertainment Imaging (DEI), an imaging solutions and services provider, has signed a multi-year memorandum with Shanghai Disney Resort. Effective 3 June, DEI has become the exclusive service provider of Shanghai Disney Resort’s Disney PhotoPass experience. DEI will support a brand new Disney PhotoPass App for guests to view, select and download photos taken by official PhotoPass photographers or captured by the on-ride photo cameras at some of the most popular attractions at Shanghai Disneyland.

29 Jun 2021, 09:46:57 AM IST

India reports 37,566 new covid-19 infections, 907 deaths

India reported 37,566 new COVID-19 infections over the last 24 hours, health ministry data showed on Tuesday, taking the country's tally to 30.31 million, with a death toll of 397,637. (Reuters)

29 Jun 2021, 09:44:44 AM IST

HDFC Life trades lower

HDFC Life Insurance Ltd witnessed a series of block deals on the exchanges on Tuesday with around 101 million shares or 5% stake in the company, changing hands, Bloomberg reported. Details of the buyers and sellers were not available.

The stock declined as much as 3.44% to hit a low of 672.15 a share. At 9.40am, the scrip was trading at 693.90 on BSE, down 0.3% from its previous close.

29 Jun 2021, 09:31:06 AM IST

Indian Bank drags

Nifty PSU Bank index
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Nifty PSU Bank index
29 Jun 2021, 09:29:44 AM IST

L&T Technology Services gain

L&T Technology Services Ltd's stock was trading at 2,894.65 apiece, up 0.30% at 9:26 am. The company has entered a strategic partnership with network software provider Mavenr to deliver end-to-end 5G automation services.

29 Jun 2021, 09:23:23 AM IST

Banks, financials drag

Nifty sectoral indices
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Nifty sectoral indices
29 Jun 2021, 09:19:34 AM IST

Market opening

Benchmark Indian equity indices opened mixed on Tuesday. The Sensex opened at 52,795.76, up 60.17 points, or 0.11%, while the Nifty was at 15,807.50, down 7.20 points, or 0.05% . Pharma, realty, auto sectors open in green.

Sensex at open
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Sensex at open
29 Jun 2021, 09:10:50 AM IST

Market pre-opening

The Sensex was at 52,798.80, up 63.21 points, or 0.12% at market pre-opening, while the Nifty was at 15,814.70, down 45.65 points, or 0.29%.

Sensex at pre-open
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Sensex at pre-open
29 Jun 2021, 08:59:27 AM IST

SpiceJet board to discuss fund raising options on Wednesday

The board of directors of no-frills carrier SpiceJet Limited will meet on Wednesday to discuss various options of raising fresh capital, the airline said in a stock exchange notification. "This is to inform you that that the Board of Directors of the Company in its meeting scheduled on Wednesday, the 30th day of June, 2021, will discuss and consider, interalia, options for raising fresh capital through issue of equity shares/debt instrument on preferential/qualified institutions placement basis....," the airline said. (Read here)

29 Jun 2021, 08:49:21 AM IST

Petrol price in Mumbai nears ₹105 after another hike

In another hike this month, petrol prices got costlier by 34-35 paise and diesel by 28-30 paise on Tuesday after a day's hiatus, taking fuel prices to another record highs in the country. The fuel prices remained unchanged on Monday.

In Delhi, petrol hit an all-time high of 98.81 a litre while diesel retailed at 88.18 per litre. The recent revision has taken the petrol price near 105 in Mumbai as it is retailing at 104.90 in the city and diesel at 96.72 a litre. (Read here)

29 Jun 2021, 08:37:03 AM IST

Stocks to Watch

Emami, Escorts, HDFC Life, KIMS, Nalco, Tata Motors, among other stocks may be in focus today. (Read here)

29 Jun 2021, 08:27:02 AM IST

Market outlook

Markets are likely to be weak on Tuesday while trends in SGX Nifty suggest a negative opening of Indian benchmark indices. On Monday, the BSE Sensex ended at 52,735.59, down 189.45 points or 0.36%. The Nifty was at 15,814.70, down 45.65 points or 0.29%.

29 Jun 2021, 08:15:19 AM IST

Google services down for some users - Downdetector

Multiple users complained about an outage affecting Alphabet Inc's search engine Google as well as its streaming and email services, according to outage monitoring website Downdetector. Platforms including Google, YouTube and Gmail were down Monday evening, with users complaining of difficulty in logging in and accessing the website in parts of North America, according to Downdetector. More than a thousand users were having difficulties with the search engine at one point, the outage monitoring website showed, and users were also facing issues with YouTube TV and Google Drive. The issue affecting the platforms was not immediately clear.

29 Jun 2021, 08:05:28 AM IST

Facebook wins dismissal of US, states’ monopoly lawsuits

Facebook Inc. won a court ruling dismissing two monopoly lawsuits filed by the US government and a coalition of states that sought to break up the company, dealing a blow to efforts by antitrust officials to take on the biggest tech platforms. The decision by US District Judge James Boasberg in Washington on Monday sent Facebook shares soaring, pushing the company’s market value to more than $1 trillion.Boasberg granted the company’s request to dismiss the complaints filed last year by the US Federal Trade Commission and state attorneys general led by New York, saying in his opinion that the FTC failed to meet the burden for establishing that Facebook has a monopoly in social networking. (Bloomberg)

29 Jun 2021, 07:56:42 AM IST

Gold heads for worst month since 2016 on Fed’s hawkish shift

Gold headed for the biggest monthly drop in more than four years after the Federal Reserve sped up their expected pace of policy tightening, sending prices tumbling below $1,800 an ounce. The rise in US stocks to a fresh record and a resurgent dollar have also weighed on the precious metal. Investors are also assessing new travel restrictions in Europe amid concerns about the coronavirus delta variant, which helped spur a re-think of the reflation trade.

Bullion is stabilizing below $1,800 an ounce as traders now focus on the timing of when policy makers may start dialing back stimulus. Fed officials meeting in June responded to increasing inflation risks by pulling forward their expected timing and pace of interest-rate increases, from the current near-zero level, and kicking off a discussion of when to taper asset purchases.

29 Jun 2021, 07:47:19 AM IST

Asian stocks open lower

Asian stocks dipped Tuesday amid concerns a more infectious Covid-19 strain will derail an economic recovery. Treasuries and the dollar were steady after gains. An MSCI index of Asia-Pacific shares was on track for its first decline in six days as countries in the region are struggling to contain the highly transmissible Delta variant of the virus. U.S. futures dipped after technology stocks led US benchmarks to fresh records Monday. But cruise operators and airlines sank as governments from Europe to Asia imposed new limits on travel from Britain—which is seeing a spike in coronavirus cases. The S&P 500 eked out a gain on news that Facebook Inc. won dismissal of two monopoly lawsuits.

S&P 500 futures dipped 0.2% as of 10:46 am in Tokyo. The S&P 500 rose 0.2%

Nasdaq 100 futures fell 0.2%. The Nasdaq 100 rose 1.3%

Topix index fell 0.8%

Australia’s S&P/ASX 200 Index fell 0.8%

Kospi index dropped 0.3%

Hang Seng Index fell 0.2%

Shanghai Composite Index fell 0.3%

SGX Nifty was down 0.20%

29 Jun 2021, 07:32:45 AM IST

Nasdaq, S&P 500 close at record highs

The Nasdaq and S&P 500 each finished at records Monday on the continued resurgence of technology shares, while weakness in financial and industrial equities left the Dow lower. The tech-rich Nasdaq Composite Index led the market, winning 1.0% to close the session at 14,500.51, easily topping its prior record. The broad-based S&P 500 gained 0.2% to end at 4,290.61, its third straight all-time high, but the Dow Jones Industrial Average dropped 0.4 percent to 34,283.27. Some of the world’s largest technology companies led stocks to a fresh record on Monday, extending a rally that’s already added $6 trillion in value to the equity market this year.

After swinging between gains and losses throughout most of the session, the S&P 500 moved higher on news that Facebook Inc. won dismissal of two monopoly lawsuits. Some of the stay-at-home darlings like Apple Inc., Amazon.com Inc. and Zoom Video Communications Inc. climbed as the reflation trade waned. Cruise operators and airlines sank as governments from Europe to Asia imposed new limits on travel from Britain -- which is seeing a spike in coronavirus cases. (Agencies)

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