Indices off day's low; breadth positive

Equity indices came off the day's low in morning trade. The Nifty scaled 15,600 mark after opening below that level. Barring FMCG and realty stocks, selling was seen across the board. Negative global cues impacted sentiment in the domestic market.

At 10:24 IST, the barometer index, the S&P BSE Sensex, was down 245.33 points or 0.47% at 52,099.28. The Nifty 50 index was down 82.65 points or 0.64% at 15,600.

In broader market, the S&P BSE Mid-Cap index was down 0.45% while the S&P BSE Small-Cap index was up 0.04%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1541 shares rose and 1348 shares fell. A total of 143 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 178,433,377 with 3,864,702 global deaths.

India reported 702,887active cases of COVID-19 infection and 388,135 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Results Today:

Info Edge (down 0.17%), Bharat Dynamics (up 0.8%), Oil India (up 1.01%), M M Forgings (up 2.34%) and VST Tillers & Tractors (up 1.22%) will announce their quarterly results today.

Buzzing Index:

The Nifty Auto index slipped 0.83% to 10,356.65, extending its losing streak to fourth consecutive trading session. The index lost nearly 4% in four days.

Tata Motors (down 2.24%), Mahindra & Mahindra (down 1.82%), Maruti Suzuki India (down 1.15%) and Ashok Leyland (down 1.03%), Bosch (down 0.97%), MRF (down 0.94%), Balkrishna Industries (down 0.45%) and Bajaj Auto (down 0.27%) fell.

Stocks in Spotlight:

SMS Lifesciences India climbed 10.17% to Rs 734.60 after the company's consolidated net profit surged 221.65% to Rs 5.05 crore on 79.44% increase in revenue from operations to Rs 82.51 crore in Q4 March 2021 over Q4 March 2020. Profit before tax soared 430.70% to Rs 6.74 crore in Q4 FY21 as against Rs 1.27 crore in Q4 FY20. The Q4 earnings were announced after market hours on Friday, 18 June 2021.

Magma Fincorp rose 1.32%. The NBFC on Monday announced that Vijay Deshwal has joined as its Group CEO. In his new role, Deshwal would be responsible for the Lending and Housing Finance business along with its Insurance business. The company said that he will be based out of the Pune corporate office. Vijay Deshwal, a post-graduate from Indian Institute of Management Ahmedabad (IIMA) is a seasoned banker with a track record of two decades. His experience spans across segments of banking, corporate finance, international business, and operations.

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