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“FIIs are selling shares worth billions of dollars in the last one week but still markets are refusing to bow to them. With billion dollar sales, there should be blood on the Street, but there is no blood on the Street.”

Chemical and fertilisers stocks stole the spotlight during the session, followed by power players. ONGC zoomed 11 per cent thanks to the gas price hikw. Srei Infra hit lower circuit while Tejas Networks plunged following an offer from the Tata Group.

The Nifty Pharma index closed 0.5 per cent down at 14738.25.

The market cap of Shiba Inu has raced past the $5.22 billion mark. The token had hit a high of $0.00001482, but later on gave up some gains.

“Over the course of the next 18 to 24 months, while we are positive on the overall economic environment shaping up, we would be a lot more selective going ahead rather than believing that everything under a broad brush will catch the momentum.”

Oil and gas explorers were in heavy demand throughout the day. IT names also bounced back while banks saw buying as well. On the other end, pharma, realty and metal stocks were under pressure.

The Nifty Auto index closed 0.48 per cent up at 10692.0.

The stock quoted a 52-week high price of Rs 362.85 and a 52-week low of Rs 166.8.

“Incumbent players, especially large ones would not find it difficult if they are willing to be a change agent for themselves. ”

As of 30-Jun-2021, promoters held 48.76 per cent stake in the company, while FIIs held 23.7 per cent and domestic institutional investors had 9.03 per cent.