Mumbai:The equity market remained negative for another week, as the Sensex fell by 98.48 points or 0.19 per cent to settle at 52,386.19 in a volatile week under review on worries that the spread of the Delta variant of coronavirus may hamper global economic recovery.Weak global cues and firm crude oil prices weighed on investor sentiment.
Nifty lost 32.40 points or 0.21 per cent to settle at 15,689.80.The BSE Mid-Cap surged 307.85 or 1.37 per cent to settle at 22,813.67. The BSE Small-Cap advanced 307.14 points or 1.20 per cent to settle at 25,874.40.On Monday, the Sensex, advanced 395.33 points to settle at 52,880. Nifty gained 112.15 points to settle at 15,834.35.
On Tuesday, the Sensex, fell 18.82 points to settle at 52,861.18. The index reversed gains after hitting a record high of 53,129.37 in mid-afternoon trade. Nifty too slipped 16.10 points or 0.10% to end at 15,818.25.
On Wednesday, it regained 193.58 points to close at 53,054.76. Nifty added 61.40 points to settle at 15,879.65.On Thursday, it again nosedived by 485.82 points to settle at 52,568.94.Nifty fell by 151.75 points or 0.96% at 15,727.90.On Friday, it further skid 182.75 points to settle at 52,386.19. Nifty too slipped 38.10 points to settle at 15,689.80.
Tata Motors slumped 11.16 per cent as the company said that the ongoing global shortage in semi-conductor chips will lead to a 50 per cent decline in production for Jaguar Land Rover (JLR) in the September quarter.JLR expects the situation will start to improve in the second half of its financial year. Meanwhile, JLR retail sales in Q1 June 2021 were significantly up year-on-year, reflecting the continuing recovery in demand from the COVID-19 pandemic, particularly compared to a year ago.
Maruti Suzuki India lost 1.91 per cent. The car major's total auto production surged 226.30 per cent to 1,65,576 units in June 2021 over 50,742 units in June 2020. Total passenger vehicle production figures surged 229.52 per cent to 1,63,037 units in June 2021 compared with 49,476 units in June 2020. Light Commercial Vehicle (LCV) production soared 100.55 per cent to 2,539 units in June 2021 as against 1,266 units in June 2020.Titan Company declined 2.12 per cent.
Mahindra & Mahindra (M&M) slipped 1.39 pcTCS dropped 3.54 per cent. The IT company's net profit fell 2.57 per cent to Rs 9,008 crore on 3.90 per cent increase in net sales to Rs 45,411 crore in Q1 June 2021 over Q4 March 2021. On a year-on-year (Y-o-Y) basis, the IT major's net profit rose 28.54 per cent and net sales rose 18.50 per cent in Q1 June 2021 over Q1 June 2020.
However, Tata Steel rallied 9.09 per cent. The company's India crude steel production rose 55 per cent Y-o-Y in Q1 FY22 to 4.62 million tons from 2.99 million tonnes (MT) in the same period last year, as Q1 FY21 was impacted due to the COVID-19 pandemic and the stringent nationwide lockdown.
IndusInd Bank advanced 2.78 per cent. The bank's deposits increased 26 per cent to Rs 2,67,629 crore as on June 30,2021 from Rs 2,11,800 crore as on June 30,2020.Bajaj Finance added 2.30 per cent. The company's customer franchise increased by 17.44 per cent to 50.5 million as on 30 June 2021 as against 43 million as of 30 June 2020.
JSW Steel gained 1.50 per cent. The steel major announced that the group's combined crude steel production stood at 5.07 million tonnes registering a 65 per cent year on year jump in Q1 FY22 from 3.07 million tonnes posted in Q1 FY21.Housing Development Finance Corporation (HDFC) rose 0.93 per cent.HDFC Bank gained 1.56 per cent.(UNI)
