Market Wrap, July 8: Here's all that happened in the markets today

After witnessing a choppy trade for the most part of the session, the domestic stock market came under heavy pressure in the last 30 minutes of the trade, thus snapping the five-day gaining streak. The S&P BSE Sensex shed 345.51 points or 0.94 per cent to end at 36,329 levels. NSE's Nifty ended at 10,706, down 94 points or 0.87 per cent. India VIX rose 4 per cent to 26.09 levels. 

Reliance Industries (RIL), Infosys, TCS, and ICICI Bank contributed the most to the Sensex's fall. Bajaj Finance (down over 4 per cent) ended as the biggest loser on the index while IndusInd Bank (up 5 per cent) was the top gainer. 

In the broader market, the S&P BSE MidCap index slipped 0.39 per cent while the S&P BSE SmallCap fell 0.43 per cent. 

Sectorally, Nifty Auto and Nifty Realty declined 2 per cent while the Nifty IT index fell 1.72 per cent. On the other hand, Nifty PSU Bank index rallied over 2 per cent.  

Global markets

Global stocks faltered on Wednesday, losing momentum after a five-day rally, as an increase in new coronavirus cases in some parts of the world undermined prospects for a quick economic recovery. 

European stocks opened lower while Asian stocks were better off. Chinese stocks extended their gains to seven sessions, with the blue-chip index up 1.6 per cent to its highest close since June 2015. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent, still lower than a four-and-a-half-month high reached the day before.