Sensex extends losses to fourth day in a row; auto stocks rise

Domestic equity benchmarks extended a losing streak to the fourth session in a row on Thursday amid selling pressure seen in IT and financial stocks. However, automobile, pharmaceutical and select FMCG shares were in high demand, which provided some support to the market.

The S&P BSE Sensex index ended 164.11 points or 0.31 per cent lower at 52,318.60 and the broader NSE Nifty50 benchmark settled at 15,680.00, down 41.50 points or 0.26 per cent from its previous close. Both indices closed lower for a fourth straight trading session.

Bajaj Finserv was the top laggard among blue-chip stocks, ending 2.23 per cent lower. Britannia, Infosys, Wipro, Shree Cement, BPCL and UltraTech, closing with cuts of between 0.94 per cent and 1.44 per cent, were among other losers.

On the other hand, Dr Reddy’s was the top gainer in the Nifty50 universe, ending 2.75 per cent higher. Hindalco, Bajaj Auto, Tata Motors, Sun Pharma, ONGC and , closing between 1.02 per cent and 2.07 per cent higher, were among other top performers.

The Nifty Auto index ended 0.82 per cent higher as investors focused on monthly sales numbers from the sector.

Both Sensex and Nifty50 had gained about 1 per cent in June, helped by declining Covid-19 cases, easing of pandemic-induced restrictions and a surge in vaccinations.

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