Benchmarks trade flat; IT shares decline

The domestic equity benchmarks were trading near the flat line in morning trade. The Nifty continued to trade below the 15,700 mark. IT shares declined for the second day in a row.

At 10:22 IST, the barometer index, the S&P BSE Sensex, was down 24.57 points or 0.05% to 52,294.03. The Nifty 50 index lost 2.95 points or 0.02% to 15,677.05.

In the broader market, the S&P BSE Mid-Cap index added 0.03% while the S&P BSE Small-Cap index rose 0.82%.

The market breadth was strong. On the BSE, 1846 shares rose and 1010 shares fell. A total of 128 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 182,593,659 with 3,954,820 global deaths.

India reported 523,257 active cases of COVID-19 infection and 399,459 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Stocks in Spotlight:

Eicher Motors shed 0.79% to Rs 2653. The company said that total motorcycles sales rose 13% to 43,048 units in June 2021 from 38,065 units in June 2020. Sequentially, the company's total motorcycles jumped 57.7% in June 2021 from 27,294 units sold in May 2021.

Hero MotoCorp rose 0.34% to Rs 2931.95. The two-wheel major's total sales grew 3.80% to 4,69,160 units in June 2021 as against 4,51,983 units in June 2020. Sequentially, total sales soared 156.30% in June 2021 from 1,83,044 units in May 2021.

Coal India gained 1.27% at Rs 147.50. On a provisional basis, the company's coal production rose 2% to 40 million tonnes in June 2021 as against 39.2 million tonnes in June 2020. The coal major's offtake surged 23% to 51.3 million tonnes in June 2021 as against 41.7 million tonnes in June 2020.

Buzzing Index:

The Nifty IT index shed 0.51% to 28,855.85, declining for second day. The index has lost 1.07% in two sessions.

TCS (down 0.93%), Infosys (down 0.67%), Larsen & Toubro Infotech (down 0.57%), Tech Mahindra (down 0.56%), HCL Tech (down 0.51%), Coforge (down 0.34%), Wipro (down 0.30%) and MindTree (down 0.26%) declined.

Meanwhile, Mphasis (up 0.91%) and Oracle (up 0.82%) advanced.

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