metal stocks

Besides, inflationary concerns due to high transportation fuel prices dented sentiments. The two key indices -- S&P BSE Sensex and NSE Nifty50 -- had a gap-up opening. However, soon afterwards, both ceded much of their gains and traded flat. Volumes on the NSE were the lowest in the past four days, and banks were the main gainers among sectors whereas metals, telecom, IT and realty were the main losers.

Besides, weak global cues dented investors' sentiments while the monthly F&O expiry created some pressure on the market. Sector wise, realty and consumer durables indices rose the most whereas metals, telecom, auto, banks and IT fell the most. Consequently, S&P BSE Sensex closed at 59,126.36 points, lower by 286.91 points or 0.48 per cent from its previous close.

Accordingly, both key indices -- S&P BSE Sensex and NSE Nifty50 -- rose a day after a sell-off which was triggered due to weak Asian cues. As per market observers, the up moves comes on the back of healthy buying support for Realty, Oil & gas, IT and FMCG stocks. Sector wise, Auto, Consumer Durables and Utilities indices traded lower.

The domestic market declined in line with the Asian stocks over concerns of rising cases of Delta variant of Covid-19 and its impact on the global economic recovery. The selloff was led by banking and metal stocks. The BSE Sensex fell as much as 615 points to touch an intraday low of 55,013.98 points. It has, however, recovered from the lows.

Healthy buying was witnessed in metal and IT stocks. Rise in the index heavyweights Reliance Industries and HDFC Bank supported the Sensex. Around 10.10 a.m., Sensex was trading at 52,661.58, higher by 217.87 points or 0.42 per cent from its previous close of 52,443.71.

Heavy selling was witnessed in metal and power stocks. Around 10.10 a.m., Sensex was trading at 52,645.30, lower by 127.75 points or 0.24 per cent from its previous close of 52,773.05. It opened at 52,782.21 and has so far touched an intra-day high of 52,816.31 and a low of 52,607.61 points. The Nifty50 on the National Stock Exchange was trading at 15,820.25, lower by 49.00 points or 0.31 per cent from its previous close.