Summary of this article
The headline indices extended losses for the second straight day on August 6.
Wipro Ltd and Sun Pharmaceutical shares emerged as top losers among Nifty 50 stocks
The Nifty Bank closed in the green while all other indices finished in the red.
The 30-share Sensex and the Nifty 50 ended lower for the second straight day on August 6. The BSE Sensex finished the session at 80,543.99, down by 166.26 points or 0.21 per cent. The Nifty 50 finished the session in the red at 24,574.2, down by 75.35 points or 0.31 per cent. The declines came amid the announcement by the Reserve Bank of India to keep the repo rate unchanged.
Wipro and Sun Pharma Lead Losers
Shares of Wipro Ltd and Sun Pharmaceutical finished lower by 2.5 per cent and 2.37 per cent on the NSE. Other stocks such as Jio Financial Services and Tech Mahindra also declined by 2.06 per cent and 2.05 per cent, respectively. On the other hand, Asian Paints, HDFC Life Insurance Company, and Mahindra & Mahindra closed higher by up to 1.94 per cent on the NSE. As many as 37 constituents of the index finished lower while 13 stocks closed higher.
Nifty Bank Bucks Trend
All sectoral indices finished lower on August 6 with the Nifty IT and the Nifty Pharma closing lower by 1.74 per cent and 2.03 per cent respectively. On the other hand the Nifty Bank index finished the session higher by 0.09 per cent. The broader market indices also witnessed declines with the Nifty SmallCap 100 and the Nifty MidCap 100 finishing the session 0.8 per cent and 1.13 per cent lower respectively.
Global Markets on August 6
Wall Street indices ended the session lower on August 5. The Dow Jones Industrial Average, Nasdaq Composite and the S&P 500 finished the session lower by 0.14 per cent, 0.65 per cent and 0.49 per cent, respectively. The Nikkei 225 and the Shanghai Composite finished in the green up by 0.62 per cent and 0.45 per cent respectively. On the other hand the Hang Seng closed lower by 0.23 per cent.
Primary Market Action On August 6
Shares of National Securities Depository Ltd listed on the BSE on August 6. Shares of M&B Engineering Ltd and Sri Lotus Developers & Realty Ltd also made their D-street debut today. Other stocks which listed on the BSE SME platform today included Takyon Networks Ltd, Mehul Colours Ltd and B.D.Industries (Pune) Ltd.
Market Cues
In today’s trade, D-street factored in the impact of the Reserve Bank of India’s repo rate announcement. Notably, the central bank has kept the lending rate unchanged. The US market is expected to factor in the impact of any new developments on the India-US trade deal front.
