Sensex Falls 486 Points, Tata Motors And JSW Steel Among Top Nifty Losers

Indian share markets witnessed negative trading activity throughout the day today and ended lower.

Benchmark indices witnessed a sharp selloff across all sectors in the afternoon session with Sensex declining more than 600 points in intraday deals, while Nifty fell below the 15,750 level.

Investors turned cautious followed by a private report stating that India's retail inflation likely to accelerate to a seven-month high in June on rising food and fuel prices, staying above the Reserve Bank of India's comfort zone for a second straight month.

Some anxiety also came as Fitch Ratings cut India's growth forecast to 10% for the current financial year, from 12.8% estimated earlier, due to slowing recovery post-second wave of covid-19.

Also, markets failed to recover in the closing session US futures were seen trading lower which further deteriorated the already weakened sentiments for the day.

At the closing bell, the BSE Sensex stood lower by 486 points (down 0.9%).

Meanwhile, the NSE Nifty closed lower by 152 points (down 1%).

Tech Mahindra and SBI Life Insurance were among the top gainers today.

Tata Motors and JSW Steel, on the other hand, were among the top losers today.

The SGX Nifty was trading at 15,726, down by 162 points, at the time of writing.

The BSE Mid Cap index and the BSE Small-Cap index ended down by 0.4% and 0.1%, respectively.

Sectoral indices ended on a negative note with stocks in the metal sector, banking sector, and finance sector witnessing most of the selling pressure.

Power stocks, on the other hand, witnessed buying interest.

Shares of Rites and Sonata Software hit their respective 52-week highs today.

Asian stock markets ended on a negative note today amid rise in covid cases and emergency measures taken in some countries to counter the pandemic.

The Hang Seng and the Shanghai Composite ended the day down by 2.9% and 0.8%, respectively.

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