Amid Volatile Trade, Sensex, Nifty Slip into Red
The key indices for Indian equities on Tuesday failed to maintain the bullish momentum, and they ultimately finished lower, reversing early gains.
The key indices for Indian equities on Tuesday failed to maintain the bullish momentum, and they ultimately finished lower, reversing early gains. Despite favourable signs from the Asian markets, the local indices fell, being pulled down by companies in the banking, consumer, and technology sectors.
Amid rumours that the United States may lower some tariffs on Chinese goods, stocks in Asia began to rise.
The wide NSE Nifty slipped 25 points or 0.15 percent lower to conclude at 15,811 today, while the 30-share BSE Sensex dropped 100 points or 0.19 percent lower to close at 53,134. The Sensex fluctuated by 812 points in a band throughout today’s session.
The Nifty Midcap 100 fell 0.27 percent, and small- and mid-capitalization equities also ended the day lower by 0.07 percent.
The National Stock Exchange’s 15 sector gauges, which it compiled, finished in the red in 11 of them. The Nifty Bank, Nifty Auto, Nifty FMCG, and Nifty Consumer Durables sub-indices all experienced declines of up to 0.70 percent, 0.37 percent, 0.36 percent, 0.16 percent, and 0.13 percent, respectively.
Nifty Healthcare, Nifty Metal, and Nifty Oil & Gas, on the other hand, displayed strength by increasing 0.34 percent, 0.30 percent, and 0.18 percent, respectively.
In terms of individual stocks, HDFC Life was the biggest loser on the Nifty, with the stock falling 1.81 percent to Rs 563.90. Along with Britannia, ITC, Wipro, Maruti, and other companies lagged behind.
Nevertheless, the BSE market breadth was favourable overall, with 1,725 shares rising and 1,562 falling.
Asian Paints, Infosys, Kotak Mahindra Bank, ITC, Wipro, M&M, L&T, Maruti, IndusInd Bank, HDFC, Axis Bank, and TCS were among the top losses on the 30-share BSE index, with their shares falling as high as 1.73 percent.
PowerGrid, Bajaj Finserv, Hindustan Unilever, Sun Pharma, Reliance Industries, Tata Steel, Dr. Reddy’s, Bajaj Finance, UltraTech Cement, Bahrti Airtel, and Tech Mahindra, on the other hand, achieved positive results.
In addition, shares of Life Insurance Corporation of India (LIC), the largest domestic financial investor and insurer in the nation, increased 1.49 percent to close at Rs 702.80.