The main indices traded sideways with modest losses in mid morning trade. The Nifty was trading above the 15,800 mark. Banks and financial shares were under pressure while realty stocks stocks advanced.
At 11:28 IST, the barometer index, the S&P BSE Sensex, was down 393.01 points or 0.74% to 52,746.11. The Nifty 50 index lost 108.4 points or 0.68% to 15,815.80.
The broader indices bucked weak market trend. The S&P BSE Mid-Cap index was up 0.01% while the S&P BSE Small-Cap index rose 0.26%.
The market breadth was positive. On the BSE, 1762 shares rose and 1335 shares fell.
A total of 179 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 190,426,223 with 4,089,030 global deaths.
India reported 421,665 active cases of COVID-19 infection and 414,108 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Results Today:
HCL Technologies (down 0.58%), HDFC Life Insurance Company (down 0.95%), ACC (down 0.01%), Indian Bank (up 2.64%), Mastek (up 0.77%), GTPL Hathway (down 1.43%), Nippon Life India Asset Management (down 0.69%) and Swaraj Engines (up 0.96%) will announce their quarterly earnings today.
Buzzing Index:
The Nifty Realty index added 1.32% to 402.8, rising for third consecutive trading session. The realty index gained nearly 7% in three days.
Indiabulls Real Estate (up 6.75%), Prestige Estates (up 2.62%), DLF (up 1.83%), Oberoi Realty (up 0.75%), Godrej Properties (up 0.71%) and Phoenix Mills (up 0.58%) were top gainers in realty segment.
Global Markets:
Asian stocks declined on Monday on concerns about the impact of elevated inflation and Covid-19 outbreaks on economic prospects.
OPEC and its allies reached a deal on Sunday to phase out 5.8 million barrels per day of oil production cuts by September 2022. Coordinated increases in oil supply from the group - collectively known as OPEC+ will start in August, OPEC said in a statement. The development came as Brent surged more than 40% so far in 2021, with demand for crude rising as the global economy recovers from the pandemic.
U. S. stocks fell on Friday weighed down by declines in Amazon, Apple and other heavyweight technology stocks, while investors worried about a rise in coronavirus cases tied to the highly contagious Delta variant.
A preliminary reading of the University of Michigan's index of consumer sentiment fell to 80.8 in July from a final reading of 85.5 in June, notching the measure's lowest level since February.
Separately, the US Commerce Department released a report showing retail sales climbed by 0.6% in June after plunging by a revised 1.7% in May. Excluding a steep drop in sales by motor vehicle and parts dealers, retail sales jumped by an even stronger 1.3% in June following a revised 0.9% decrease in May.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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