Indian stock market closed lower today, 9 July 2021
Market Today 9 July 2021: Indian stock markets opened lower on Friday amid weak global cues. The key benchmark indices continued to trade below their neutral line on the back of selling in Oil & Gas, IT, and Banking sectors. In the end, the benchmark indices closed below their crucial levels today.
Other than the weak global cues, traders got worried as a private report stated that inflows into equity, mutual funds dropped sharply by 40 percent to Rs 5988 crore in June due to profit-booking by investors, as markets witnessed sharp rallies in recent times. The sentiments were also subdued as FIIs are continuously selling in the equity cash market, they have offloaded shares worth Rs 554.92 crores on Thursday, as per provisional exchange data.
Today’s market updates: Sensex, Nifty, and Bank Nifty on the spot price
At the close, Nifty fell 38.10 points or 0.24 percent and closed at 15689.80, while Sensex declined 182.75 points or 0.34 percent and finished at 52386,19 levels. The Bank Nifty on the spot price was down 202.15 points or 0.57 percent and ended at 35071.95 levels.
The broader markets outperformed the benchmark indices today. The Nifty midcap index gained 169.55 points or 0.62 percent and closed at 27382.75 levels. The Nifty smallcap index was up by 54.15 points or 0.54 percent and ended at 10026.35 levels.
The top five gainers in the Nifty 50 index were Bajaj Finserve, Tata Steel, Adani Ports, Bharti Airtel, and JSW Steel. On the losing side, Bajaj Auto, TCS, HDFC Bank, Reliance, and Wipro. The most active stocks in the Nifty 50 index were Tata Steel, TCS, and Tata Motors.
On a sectoral basis, Metals, Finance, Healthcare, Telecom, and Real Estate sectors closed in the green. The sector that closed in the red were IT & Software, Oil Gas, Banks, and Capital Goods.
Global market updates today
On a global front, Asian markets closed mixed on Friday as traders’ confidence took a beating over the global spread of the Delta variant of Covi-19 infection and worries it could slow down the pace of a worldwide economic recovery. European markets are trading higher after Thursday’s sell-off. The US future indexes are trading mixed at this moment ( 4 pm IST). Dow future is trading higher whereas Nasdaq future is trading marginally lower.
Indian Stock Market Live Today 9 July: Market indices are trading lower, Banking stocks are top losers
Market Live Today 9 July: Indian stock markets opened lower on Friday amid weak global cues. Nifty opened at 15688.25 levels, down by 39.65 points while Sensex opened lower by 60.7 points at 52508.24 levels. The Bank Nifty on the spot price opened at 35163.75 levels, down by 110.35 points from the previous close.
At 9.45 am IST, Indian stock market key indexes, Sensex and Nifty are trading lower by 0.55 percent and 0.51 percent respectively. The Bank Nifty spot price is trading 1.13 percent down.
Tata Steel, JSW Steel, and Cipla are trading as the top gainers in the Nifty 50 index whereas Axis Bank, IndusInd Bank, and Eicher Motors are trading as the top loser. The most active stocks in the Nifty 50 index are TCS, Tata Motors, and Tata Steel. The share price of TCS reacted negatively today after Q1FY22 earnings.
On a sectoral front, Metals, Healthcare, Power, and FMCG sectors are trading marginally higher whereas banking, Oil & Gas, and IT & Software sectors are trading in the red at this moment.
Indian stock markets are likely to open in the red
Good morning and welcome to the Indian stock market live today, 9 July at 8 am IST
Asian markets are trading lower on Friday tracking the negative cues from the US market overnight. Nikkei and Hang Seng are trading lower by 2.29 percent and 0.76 percent respectively. Shanghai is trading 0.99 percent down at this moment. SGX Nifty is trading 66 points down at 15643 levels. The global cues are weak, the Indian stock market is likely to open in the red today.
The US market indexes closed lower due to the rising global delta variant of Covid-19 cases and falling bond yields. Investors are concerns about labor shortage and supply-chain bottleneck, which may slow down the US economy. The US market indexes, Dow Jones and S& P 500 fell 0.75 percent and 0.86 percent respectively. The Nasdaq slipped 0.72 percent on Thursday.
European markets fell sharply on Thursday amid growing concerns about the impact that the Covid-19 delta variant will have on economic growth in the region at least in the next few months. European market indexes FTSE and DAX closed lower by 1.68 percent and 1.73 percent respectively while CAC was down by 2.01 percent respectively on Thursday.
Indian stock market closed lower on Thursday following the Asian market peers. The benchmark indices, Sensex and Nifty closed lower by 0.92 percent and 0.96 percent respectively. FIIs and DIIs both were sellers in the cash market segment on Thursday. FIIs sold Rs 554.92 crore while DIIs sold Rs 949.18 crores in the cash market on 8 July.
News that may impact the Indian stock market live today
The country’s outward remittances fell by $6 billion in FY21 as the pandemic put brakes on ordinary overseas travel and student traffic to campuses abroad, partly contributing to the current account surplus of $24 billion. This is the first time annual remittance outflows have contracted since 2015 after RBI doubled the sending limits to $250,000.
On 8 July, the IT major Tata Consultancy Services (TCS) reported its June quarter numbers. The company’s profit stood at Rs 9008 crore for the June end quarter of FY22 as compared to Rs 9246 crores in the previous quarter, down 2.6%. Revenue for the quarter came at Rs 45,411 crore compared to Rs 43,707crore, up by 3.7%. The margin declined 130bps for the quarter compared to the previous quarter.
The TCS share price declined to 0.50 percent ahead of the Q1 FY22 results. The quarterly numbers were slightly below the expectations of the market. The market will first react to the TCS Q1FY22 numbers today.
You can visit again to read more about the Indian stock market live updates for today, 9 July after the markets get open.
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