Equity Indices Swings Down, Metals Stocks Drag

• ByStartupStory     |    June 18, 2021

 Equity benchmark indices show a decline  Metal stocks drag in the early hours on Friday. The BSE S&P Sensex was down by 236 points or 0.45 percent at 52,087 while the Nifty 50 slipped by 83 points or 0.53 percent to 15,608. All sectoral indices at the National Stock Exchange were in the red with Nifty metal down by 2.9 percent, PSU bank by 1.7 percent and auto by 1.3 percent, and realty by 2 percent. Among stocks, JSW Steel cracked by 2.8 percent to Rs 676.50 per share while Hindalco lost by 1.6 percent and Tata Steel lost by 2.5 percent.

Furthermore, ONGC, Tata Motors, Coal India, and Power Grid Corporation State Bank of India, also traded lower with thin margins. However, Infosys, Adani Ports, HDFC Bank, and HDFC Life traded in the green. Meanwhile, Asian shares inched higher but were set for a weekly loss as investors continued to digest comments from the US Federal Reserve projecting interest rate hikes in 2023. MSCI’s broadest index of Asia Pacific shares outside Japan edged up 0.01 percent. Hong Kong’s Hang Seng index increased by 0.53 percent and Seoul’s Kospi was high by 0.16 percent. Japan’s Nikkei rose 0.31 percent.

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