Wed, 04 Aug 2021

Equity indices close flat, Adani stocks plunge

14 Jun 2021, 21:37 GMT+10

Mumbai (Maharashtra) [India], June 14 (ANI): Equity benchmark indices closed flat on Monday amid lack of directional cues and consequent lacklustre trading session.

At the closing bell, the BSE SP Sensex was up by just 77 points or 0.15 per cent at 52,552 while the Nifty 50 ticked higher by 13 points or 0.08 per cent to 15,812.

Sectoral indices at the National Stock Exchange were mixed with Nifty realty down by 1.5 per cent, metal by 0.6 per cent and financial service by 0.3 per cent. Nifty IT, PSU bank and FMCG were in the green with slim margins.

Among stocks, Adani Ports sank by 9.2 per cent to Rs 762 per share after reports said that National Securities Depository Ltd (NSDL) has frozen the accounts of three foreign funds -- Albula Investment Fund, Cresta Fund and APMS Investment Fund -- which together own over Rs 43,500 crore worth of shares in four Adani Group companies.

The Group denied reports. However, several Group companies closed substantially lower from their previous close.

Shares of Bharat Heavy Electricals Ltd (BHEL) slipped 11.6 per cent to Rs 67.35 per share after the company reported a lower-than-expected set of numbers for the quarter ended March.

Coal India was down by 2.1 per cent, Kotak Mahindra Bank by 1.5 per cent, HDFC by 0.7 per cent and Sun Pharma by 0.6 per cent. Bajaj Auto, Hero MotoCorp and Maruti Suzuki too were in the red.

However, index heavyweight Reliance Industries gained by 1.4 per cent to close the day at Rs 2,245 per share. Others that moved up were Tata Motors, Wipro, Bajaj Finance, ONGC, Britannia and IndusInd Bank.

Meanwhile, global shares held firm near record highs while US bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week.

Japan's Nikkei rose 0.74 per cent and South Korea's Kospi was up by 0.09 per cent. Activity was limited with the region's largest markets -- China, Hong Kong and Australia -- closed for a holiday. (ANI)

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