Closing Bell: Market extends fall for 2nd day in row; Sensex slips 220 pts, Nifty ends below 17,750
At the market close, the Nifty50 settled at 17,721.50, down 43.10 points or 0.24 per cent, while the BSE Sensex declined by 0.37 per cent to the 60,286.04 mark on Tuesday.
The Indian markets extended its declining trend for the second straight session on Tuesday. The benchmark indices such as BSE Sensex dipped 220 points and Nifty50 ended below 17,750 mark, dragged by FMCG and Auto most along with Metal and IT stocks.
At the market close, the Nifty50 settled at 17,721.50, down 43.10 points or 0.24 per cent, while the BSE Sensex declined by 0.37 per cent to the 60,286.04 mark on Tuesday.
Following benchmark suits, the broader markets such as the Nifty Mid cap closed flat, while Nifty Smallcap was down almost 1 per cent.
Of 50 stocks on the Nifty index, 19 advanced, and the remaining 31 declined on Tuesday.
Adani group’s flagship company stock Adani Enterprises rose over 15 per cent to become a top Nifty gainer followed by Dr Reddy’s, Adani Ports, Kotak Bank, and IndusInd Bank in the range of 1-2 per cent at the close.
On the contrary, Tata Group company – Tata Steel shares tumbled most in trade today, down more than 5 per cent amid weak third-quarter earnings.
While Hindalco, ITC, Hero Moto, and Maruti Suzuki were among the top losers that dragged the equity markets today.
Except for Banking, Financial Services, and Realty, all other sectoral indices were in the red zone on Tuesday. Auto and FMCG cracked most by around 1 per cent each, while the Metal, IT, and Pharma sectors also closed negative on Tuesday.
"Sentiments in the domestic market were hammered by bears that dominated the US market post the release of strong jobs data. Global markets are currently driven by central bank policies and the surge in bond yields in expectation of more rate actions," said Vinod Nair, Head of Research at Geojit Financial Services.
Global stock markets were mixed Tuesday as traders looked ahead to a speech by Federal Reserve Chair Jerome Powell for clues to interest rate plans after Japanese wages rose and Australia's central bank hiked its key rate again.
London and Shanghai gained. Frankfurt, Tokyo, and Wall Street futures declined. Oil prices rose.
The rupee appreciated 6 paise to close at 82.70 against the US dollar on Tuesday, as a weak American currency against major rivals overseas boosted investor sentiments.
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