Staff of Reuters Read for 2 minutes Reuters, BENGALURU, July 9 – On Friday, Indian markets were flat, weighed down by a drop in financial and auto sectors, as well as a decreasing rate of vaccination in several states and the global spread of the Delta strain of COVID-19. The NSE Nifty 50 index was down 0.29 percent at 15,833.90 as of 0508 GMT, while the benchmark S&P BSE Sensex was down 0.26 percent at 52,916.30. The larger Nifty 50 index is currently trading below its 21-day moving average, indicating a market downturn. The largest drags on the Nifty Bank index, which down 0.9 percent, were major lenders HDFC Bank and ICICI Bank, which plummeted 0.9 percent and 0.8 percent, respectively. The Nifty Auto index fell 0.54 percent, extending its losses. It has lost 2.52 percent in the last week. Asian stocks fell to a two-month low as investors worried about a stalled global economic recovery due to the global spread of the Delta virus type. Tata Consultancy Services’ stock dropped as much as 1.5 percent on Thursday after the company reported a 29 percent increase in June-quarter net profit. Analysts had predicted a profit of 93.72 billion rupees, which was somewhat higher than the company’s actual result of 90.08 billion rupees. Bharat Dynamics rose 4.4 percent after winning a 4.99 billion rupee ($66.79 million) deal to provide the Indian Air Force with the Akash missile. 74.7100 Indian rupees = $1 (Bengaluru-based reporter Shivani Singh contributed to this report; Uttaresh.V edited it.)/n
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