Sensex Off Record Highs, Ends 18 Pts Lower

After the BSE Sensex scaled its fresh record high of 53,129.37, the benchmark indices gave up its day's gains as stocks in the Auto, IT, and Pharma sectors weighed the sentiment on Tuesday, July 6. The BSE Sensex declined 18.82 points to close at 52,861.18, while the Nifty-50 index closed lower by 16.10 points at 15,818.25.

Shares of Maruti Suzuki, TCS, and Tech Mahindra ended among the top drags for the BSE Sensex on Tuesday declining over 1-2 per cent each. However, the Banking and Financial stocks played defensives with shares of HDFC Bank and Bajaj Finance adding over two per cent each. 

Tracking the sectoral performance, the Auto, IT and Pharma sectors were the top laggards in the day's trade. Shares of Tata Motors plunged 10 per cent in the afternoon trade after JLR pointed a profit warning on the global shortage of semi-conductor chips. 

During the afternoon trade, the GST revenue numbers also witnessed a sharp decline for the first time in eight months as the collections stood at Rs 92,849 crore for the month of June. However, However, the revenue collection for June 2021 was 2 per cent higher compared with the corresponding period last year. 

In the overall market performance on Tuesday, nearly 1557 shares advanced, 1624 shares declined, and 121 shares were unchanged.