Inflation, delta variant concerns trigger global risk off sentiment
Infosys closed 0.3 per cent higher after posting strong earnings and raising its forecast on the back of a pandemic-driven expansion in digital offerings by businesses globally.
New daily cases climbed to a record 54,517 on Wednesday, higher than India's, while the seven-day moving average jumped to 41,521 from less than 6,000 at the end of May
Stock will need to move to about Rs 328 a share (4.3x over possible IPO price of Rs 76) for it to be part of Nifty index
The broader markets, on the flipside, settled about half a per cent higher.
Sensex posts biggest loss in nearly two months
Sectorally, all but IT index closed in the red with the Nifty Metal and PSU Bank indices leading the list of losers, down over 2 per cent each
Nifty 50 index rose 61 points, or 0.4 per cent, to end at a new lifetime high of 15,879.65
Realty and metal indices rose 2 per cent each while auto index ended in the red
In the broader markets, the BSE MidCap index settled 0.12 per cent higher while the BSE SmallCap index closed 0.26 per cent lower
Sectorally, all, except the IT and Pharma indices, ended in the green. Of these, the Nifty Realty index was the top gainer, up nearly 3 per cent.
Sectorally, the Nifty Pharma index was the top gainer, up 0.6 per cent, followed by the Nifty Bank index, up 0.4 per cent
Despite an overall slowed down momentum in the markets, investors rewarded auto stocks as the June sales figures showed healthy year-on-year recovery
Sectorally, all but the Nifty IT index ended 0.6 per cent higher. All other indices settled lower with the Nifty Media index down 0.8 per cent and the Nifty Bank index down 0.7 per cent
Among notable steps, FM Sitharaman announced Rs 1.1-trillion loan guarantee for Covid-affected sectors. Health sector, she said, will receive attention for scaling up infrastructure on cities and town
It's a sign that the market has become overheated, say experts
In the broader market, the BSE MidCap and SmallCap indices advanced 1 per cent and 0.4 per cent, respectively
The Nifty sectoral indices were mixed, with the Nifty IT index, up 2.79 per cent, leading the gainers, while the Nifty PSU Bank index, down 1.4 per cent, bled the most
In the mid-, and small-cap segment, PNB Housing Finance, Central Bank of India, United Breweries, Adani Enterprises, PNB Gilts, Dhanlaxmi Bank, and Indian Overseas Bank dragged the broader markets
The latest 1,000-point up move has been the slowest in the previous 10