Indian indices gave up some of the intraday gains after hitting fresh record highs and ended marginally lower on Tuesday. The fall was triggered by selling in auto, IT, and pharma stocks.

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The sentiment was also lower as broader Asian markets struggled for direction after the Australian central bank’s interest rate decision.

The Sensex ended 18 points lower at 52,816, and the Nifty fell 16 points to settle at 15,818.

Meanwhile broader markets also ended the day in the red, with the midcap index down 0.05 percent and smallcap index down 0.66 percent. The last hour fall leads market breadth to turn in favour of declines. The advance-decline ratio stands at 3:4.

On the Nifty50 index, Ultratech Cement, Shree Cement, HDFC Bank, Bajaj Finance, and SBI Life were the top gainers. And Tata Motors, Tech Mahindra, Coal India, TCS, and Mahindra & Mahindra led the losses.

Nifty Bank surged over 1 percent on Tuesday, following by Nifty Financial Services, Nifty Private Bank, and Nifty Media. HDFC Bank contributed nearly 90 percent to Nifty Bank's gain.

On the other hand, Nifty Auto gave up 2 percent. Nifty IT, Nifty PSU Bank both shed over 1 percent and Nifty Metal, Pharma, Realty, and FMCG also ended the day in the red.

In the last hour of trading on Tuesday, there were only sellers of Tata Motors shares after the company flagged chip supply shortage.

The shares of AU Small Finance Bank jumped over 8 percent after its June quarter business update showed higher deposits in the first quarter of 2021.

Cement shares rose on demand recovery, with UltraTech and Shree Cement rising 3 percent each. Godrej Consumer ended the day at record highs as the stock continues to gain momentum.

Internet technology company Info Edge India or DMart retail chain operator Avenue Supermarts is likely to be a part of the Nifty50 from the October series.

The Indian rupee also witnessed sharp depreciation in June, after the US dollar strengthened significantly. The upmove in the greenback was driven by US Federal Reserve's hawkish shift surprise in June when policymakers signalled two interest rate hikes by the end of 2023.

Indian bond yields jumped to near 4-month highs on Tuesday as the rally in the global crude oil prices raised worries about higher imported inflation. A selection of papers for this week’s bond buyback by RBI also disappointed the investors.

The most-traded 6.64 percent 2035 bond was up 6 basis points at 6.79 percent. The 10-year bond was also up 6 bps at 6.15 percent – highest since April 16.

(Edited by : Yashi Gupta)

First Published:Jul 6, 2021 3:35 PM IST