INSUBCONTINENT EXCLUSIVE:
HDFC Bank, HDFC, Kotak Mahindra Bank, Axis Bank and ICICI Bank have lost 1-3 per cent each on BSEThe domestic stock markets have lost more
or 0.9 per cent and the NSE Nifty was 15,783.90, down 139.50 points or 0.88 per cent
The broader markets were outperforming the largecap peers, with the BSE Midcap and BSE Smallcap indices shedding around half a per cent
while perceived safe haven assets, including the yen and gold, edged higher as investor risk appetite was soured by fears of rising
inflation and a relentless surge in coronavirus cases.Japan's Nikkei dropped 1.3 per cent, South Korea's KOSPI was 1 per cent lower and
New Zealand's shares were off 0.4 per cent.Wall Street ended lower on Friday, weighed down by declines in Amazon, Apple and other
heavyweight technology stocks, while investors worried about a rise in coronavirus cases tied to the highly contagious Delta variant
The Dow Jones fell 0.86 per cent, while the S-P 500 lost 0.75 per cent and Nasdaq Composite dropped 0.8 per cent.In the primary market, the
specialty chemical company Clean Science - Technology will list on the bourses today.In corporate earnings, HCL Technologies, HDFC Life
Insurance Company, ACC, Indian Bank and Mastek will declare their numbers during the day.On the stock-specific front, the financial stocks
are witnessing selling pressure on the BSE
The selling in this space is so intense that the the top seven losing stocks on the BSE belong to the banking and financial category and
include the likes of HDFC Bank, HDFC, Kotak Mahindra Bank, Axis Bank and ICICI Bank.On the other hand, NTPC, Bharti Airtel, Titan and
Powergrid Corporation have gained up to a per cent each on the BSE.The BSE market breadth is weak
Out of 2,774 stocks traded on the BSE, there are 1,335 advancing shares as against 1,332 declines.
