Closing Bell: Market trims losses in last hour as Nifty ends near 17,100, Sensex closes around 400 points lower; realty, metal, IT among top losers

The Indian market pared losses in the last session after correcting more than 2 per cent in the opening trade on back of uncertainty related to Russia-Ukarine tension to end more than half per cent lower. This recovery helped Nifty50 to reclaim 17,000 and close near 17, 100, while the barometer Sensex closed with nearly 400 points loss. Benchmarks Nifty and the Sensex ended a highly volatile day at 17,092.20 and 57,300.68 respectively.  

Mid cap and small cap indices corrected between 1 to 2 per cent, while Nifty Bank too ended below 37,500 after losing over 250 points as all broader market indices closed Tuesday in the red. Besides, PSU Bank, Realty, Media, Metal and IT were other sectors that declined the most. Of all the sectors metal and media were worst hit.  

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As markets trimmed losses in the last hour, Mahindra & Mahindra, Bajaj Finserv, Hindalco, Eicher Motors, Hero MotoCorp, Kotak Bank, HDFC Ltd and Sun Pharma gained to lead the recovery from the front. BPCL, Tata Steel, Tata Motors, TCS, SBI Life, State Bank, Dr Reddy's, ITC, IndusInd Bank, HCL Tech and Bharti Airtel were among top losers. 

"Besides, escalating geopolitical tensions between Russia and Ukraine, Foreign institutional investors continued their selling binge on Monday as they sold shares worth Rs 2,261.9 crore in the Indian stock market, affecting sentiments," said Gaurav Garg, Head of Research, Capitalvia Global Research Ltd.