Indian shares end lower as IT stocks and Reliance drag

Thyrocare Technologies

28/06/2021 11:45

BENGALURU, June 28 (Reuters) - Indian shares closed lower on
Monday, weighed down by heavyweight information technology
stocks and Reliance Industries  RELI.NS , with investors showing
little reaction to relief measures announced by the country's
finance minister.
    Benchmark indices snapped their two-day winning streak with
the blue-chip NSE Nifty 50 index  .NSEI  ending 0.29% lower at
15,814.70, while the S&P BSE Sensex  .BSESN  closed down 0.36%
to end at 52,735.59.
    Both the indexes added about 1.1% each last week, when over
41 million COVID-19 vaccine doses were administered across the
country and some pandemic-induced restrictions were further
eased.
    However, the Nifty and Sensex struggled for momentum on
Monday after hitting record highs when they opened, with
investors largely looking past several relief measures announced
by India's finance minister late in the session.
    Global shares also dented sentiment as Asian and European
markets fell after a spike in coronavirus cases across Asia over
the weekend.  MKTS/GLOB 
    In Mumbai trading, the Nifty IT index  .NIFTYIT  ended 0.49%
lower after two straight sessions of gains. The country's top
software services provider Tata Consultancy Services  TCS.NS 
fell 1.3% and was among the top percentage losers on the Nifty
50.
    Billionaire Mukesh Ambani-owned conglomerate Reliance closed
0.7% lower, clocking its fifth consecutive day of losses.
    The Nifty Pharma index  .NIPHARM  ended up 1.27%, for only
its fourth session of gains in eleven.
    Thyrocare Technologies  THYO.NS  closed down 9.6% after
hitting a record high on Friday. Temasek-backed online pharmacy
PharmEasy's parent is set to buy a 66.1% stake in the medical
laboratory chain owner.
    Hospital chain operator Krishna Institute of Medical
Sciences  KRII.NS  and milk distributor Dodla Dairy  DODL.NS 
saw strong market debuts, gaining 20.8% and 42.5%, respectively.
    

 (Reporting by Shivani Singh in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))