Business Featured National

Indian shares closed lower on Tuesday, led by losses in banking and metal stocks amid a selloff in global markets sparked by a surge in the Delta variant of the coronavirus.

Dear Trader…

Indian shares closed lower on Tuesday, led by losses in banking and metal stocks amid a selloff in global markets sparked by a surge in the Delta variant of the coronavirus. Traders remained cautious over rising Delta variant of Covid-19 cases globally, fear of possible lockdown and impact of rising inflation on economic recovery.

Traders were also concerned as Asian Development Bank has downgraded India’s economic growth forecast for the current financial year to 10 percent from 11 percent projected in April, on account of the adverse impact of the coronavirus pandemic. India’s GDP growth recovered to 1.6 percent in the last quarter of the fiscal year ended March 2021, narrowing contraction in the whole fiscal year from 8 percent estimated in April to a revised 7.3 percent.

Nifty futures opened at 15711.00 points against the previous close of 15752.40 and opened at a low of 15586.00 points. Nifty Future closed with an average movement of 155.00 points and a rise of around 122.40 points and 15637.20 points .. !!

On the NSE, the midcap 100 index will decline 1.44% and smallcap 100 index is closing decline 1.41%. Speaking of various sectoral indices, the NSE saw gains in only FMCG stocks, while all other sectoral indices closed lower.

At the start of intra-day trading, august gold opened at Rs.48240, fell from a high of Rs.48295 points to a low of Rs.47965, with a rise of 173 points, a trend of around Rs.48267 and September Silver opened at Rs.67409, fell from a high of Rs.67499 points to a low of Rs.66930, with a decline of 89 points, a trend of around Rs.67157..!!

Meanwhile, Directorate General of Civil Aviation (DGCA) in its latest data has indicated that around 31.13 lakh domestic passengers travelled by air in June, 47 percent higher than the 21.15 lakh who travelled in May. It said 57.25 lakh people had travelled within the country by air in April. The drop in domestic air traffic in May was due to the second wave of the COVID-19 pandemic that had badly hit the country and its aviation sector.

According to the data shared by the DGCA, while IndiGo carried 17.02 lakh passengers in June, a 54.7 per cent share of the domestic market, SpiceJet flew 2.81 lakh passengers, accounting for a nine per cent share of the market. Air India, GO FIRST (previously known as GoAir), Vistara and AirAsia India carried 5.14 lakh, 2.58 lakh, 2.25 lakh and 1.07 lakh passengers, respectively in June. The occupancy rate or the load factor of the six major Indian airlines was between 54.4 per cent and 71 per cent in June.

Data further stated that the occupancy rate at SpiceJet was 71 per cent in June. The occupancy rates for IndiGo, Vistara, GO FIRST, Air India and AirAsia India were 62.7 per cent, 60 per cent, 70.9 per cent, 58.4 per cent and 54.4 per cent, respectively. The aviation sector has been significantly impacted due to the travel restrictions imposed in India and other countries in view of the pandemic. India resumed domestic passenger flights on May 25 last year after a gap of two months due to the coronavirus pandemic. Indian airlines are allowed to operate a maximum of 65 per cent of their pre-pandemic domestic flights.

Technically, the important key resistances are placed in Nifty future are at 15676 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 15707 – 15737 levels. Immediate support is placed at 15577 – 15530 levels.

Note :- Before Act please refer & agree Terms & conditions, Disclaimer, privacy policy & agreement on

Related posts

The Indian stock market closed lower on Monday due to the Covid-19 cases are steadily rising and the severely affected state is considered a terrible lockdown of recovery in Asia’s third largest economy.


Food goes digital: Online grocery shopping becomes popular


Covid-19: Karnataka recorded 334 fresh cases in last 24 hours


Leave a Comment