- Title: Indian shares slip on weak Asia cues; midcaps tumble
- Date: 11th August 2021
- Summary: MUMBAI, MAHARASHTRA, INDIA (AUGUST 11, 2021) (ANI - NO USE INDIA) VARIOUS OF BOMBAY STOCK EXCHANGE (BSE) BUILDING PEOPLE WALKING OUTSIDE BSE / VEHICLE PASSING BY TICKER VARIOUS OF PEOPLE ENTERING BSE (SOUNDBITE) (English) STOCK MARKET ANALYST, SUNIL SHAH, SAYING: "The securities which were only exclusive on BSE, there were some new guidelines regarding margining and surveillance. So, that made investors (a) little nervous and people are booking profit. I think the undercurrent is still bullish, economy and the company corporate India is doing well and things look good." PEOPLE WALKING OUTSIDE BSE
- Embargoed: 25th August 2021 07:42
- Keywords: BSE Bombay Stock Exchange India. stocks Maharashtra Mumbai Nifty Sensex markets shares
- Location: MUMBAI, MAHARASHTRA, INDIA
- City: MUMBAI, MAHARASHTRA, INDIA
- Country: India
- Topics: Asia / Pacific,Economic Events
- Reuters ID: LVA001EPU49QN
- Aspect Ratio: 16:9
- Story Text: Indian shares slipped on Wednesday (August 11), tracking weakness in Asian peers on worries over a resurgence in COVID-19 cases, while small and midcap stocks tumbled after a bourse placed price limits to curb volatility.
By 0505 GMT, the blue-chip NSE Nifty 50 index fell 0.41% to 16,213.90 and the benchmark S&P BSE Sensex was down 0.38% to 54,349.15.
The S&P BSE Smallcap Index lost 2.73% and the BSE Midcap Index fell 1.72%, extending losses to a third session, after the BSE said it would place additional price limits on securities from Aug. 23 to curb excessive price movement.
"The BSE circular led to some profit-taking in small and midcap stocks, and elevated valuations are leading to consolidation in the market," said Anita Gandhi, a whole-time director at Arihant Capital Markets.
The benchmark indexes hit record highs on Tuesday, adding to last week's 3% gains that came on the back of strong corporate earnings and the central bank's decision to keep rates unchanged.
However, weakness in Asian shares on worries about the economic impact of a rapidly spreading Delta coronavirus variant dampened sentiment. India's tally of COVID-19 cases has crossed 32 million.
In Mumbai trading, Bajaj Auto Ltd and Shree Cement Ltd were among the top drags on the Nifty, both falling more than 2%.
The Nifty Metal index, however, provided a boost by adding 0.92%. It ended 2.76% lower on Tuesday.
Tata Steel and JSW Steel were among the top gainers, rising 1.3% and 1.9%, respectively.
Shares of Zomato Ltd jumped more than 5% as investors looked past a quarterly loss and focused on strong revenue growth in the food delivery firm's first earnings as a publicly listed company.
Carlyle-backed animal healthcare firm SeQuent Scientific slumped 20% after reporting a sharp drop fall in June-quarter profit.
($1 = 74.4200 Indian rupees) - Copyright Holder: ANI (India)
- Copyright Notice: (c) Copyright Thomson Reuters 2021. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None
