Sensex Ends Lower After Hitting Fresh All Time High; Auto, PSU Banks Top Laggard

Buoyed by strong global cues Sensex in trade today on July 6, 2021 hit a fresh high of 53,129.37 points, while the Nifty has been just shy of hitting the new high. All time high on the Nifty has been 15915.65. At the close, Sensex settled lower by 19 points at 52,861, while Nifty shed 16 points to close at 15818. Broader markets also fell by a tad while Nifty Bank ended on a positive note, gaining over 1 percent.

Sensex Ends Lower After Hitting Fresh All Time High; Auto Top Laggard

Among Nifty sectoral indices, towards the close of the trading session only Nifty Private Bank, Nifty Media, Nifty and Nifty financial services traded in the green. Nonetheless, auto index saw the most weakness followed by IT, pharma, PSU Bank, FMCG.

There was seen action in Adani stocks of which Adani Green, Adani Transmission and Adani Power were locked at the upper circuit.

Shares of Tata Motors hit 10% lower circuit in trade today after JLR in a press release said that the global scarcity of semi conductor chips shall result in a 50% decline in the production for Jaguar Land Rover in September quarter.

Oil exploration companies including ONGC have been gaining on a boil in the crude price. After the OPEC + talks have not reached a deal, WTI crude has hit a 6-year high of $78 per barrel.

Meanwhile, European markets are also trading lower at the time of writing this copy with the major drag on German DAX.

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