Domestic Equity Indices closed flat; Sensex fell 53 points & Nifty 50 closed at 15,740 level

The domestic stocks markets ended with tiny losses on Tuesday, June 8, 2021. The S&P BSE Sensex slipped 52.94 points or 0.10 per cent to end at 52,275.57. The Nifty 50 index lost 11.55 points or 0.07 per cent to settle at 15,740.10. The Nifty Bank index lost 358.35 points or 1.01 per cent and closed at 35,085.30.

In the broader market on the BSE, the MidCap index advanced 0.38 per cent and the SmallCap index climbed 0.93 per cent. The BSE MidCap index hit a record peak for the fifth consecutive day, at 22,822.60 levels. On the other hand, the SmallCap counterpart stuck a new peak of 24,868.27 earlier today.

Buyers outpaced sellers. On the BSE, 1,850 shares rose and 1,355 shares fell. On the Nifty 50 index, 27 shares advanced and 22 shares declined and one share remained unchanged. The top five gainers on Nifty 50 were Tata Motors (up 3.18 per cent), Tech Mahindra (up 2.28 per cent), Bharti Airtel (up 2.06 per cent), IOC (up 1.87 per cent) and HCL Tech (up 1.83 per cent). The top five losers were Hindalco (down 1.77 per cent), Tata Steel (down 1.66 per cent), JSW Steel (down 1.31 per cent), Kotak Mahindra Bank (down 1.26 per cent) and HDFC (down 1.19 per cent).

BSE crosses milestone of registered users

The Bombay Stock Exchange has crossed the milestone of seven crores registered users based on Unique Client Code. In a statement, BSE said that the journey from six to seven crore users took just 139 days, adding that 82 lakh of these new users are in the age group of 20 to 40 years. Besides, the market capitalization of BSE-listed companies recorded a new high cruising at over Rs 227 lakh crore ($3.12 trillion) post-touching three-trillion dollar mark on May 25, 2021.

COVID-19 Update

Total COVID-19 confirmed cases worldwide stood at 17,36,38,512 with 37,37,406 deaths. India reported 13,03,702 active cases of COVID-19 infection and 3,51,309 deaths while 2,73,41,462 patients have been discharged, data showed.

Prime Minister Narendra Modi on Monday announced that the Government of India will provide free vaccines to states for all people above 18 years, starting June 21, 2021. Mr Modi said no state government of the country will have to spend anything on the vaccine and the Government of India will provide free vaccines to all the countrymen.

The government has decided that 25 per cent of the vaccine responsibilities that were looked after by the state governments, will now be looked after by the Centre.

CRISIL lowers India's GDP growth forecast

CRISIL has lowered India's GDP growth forecast to 9.5 per cent for the current fiscal compared to 11 per cent projected earlier. The downward revision reflects the major hit the two engines of growth - private consumption, investment - have taken due to the second COVID-19 wave.

World Bank's $500 million program to support MSMEs

The World Bank has said it has approved a $500 million program to support MSMEs in India to increase liquidity access for viable small businesses impacted by COVID-19. The bank's Board of Executive Directors has approved a $500 million programme to support the Government of India's nationwide initiative to revitalise the MSME sector, which has been heavily impacted by the COVID-19 crisis.

Japanese Economy

Revised government data released on Tuesday showed Japan's economy shrank 3.9 per cent in the first quarter, an improvement from an initial estimate of a 5.1 per cent contraction.