NEW DELHI: The stock market ended on a negative note on Tuesday, breaking a four-day winning streak. The decline was driven by weak global sentiment and profit booking in IT shares.
The BSE Sensex closed at 73,677.13, dropping by 195.16 points. Similarly, the Nifty closed at 22,356.30, shedding 49.30 points. Out of the Nifty companies, 21 saw gains, while 29 witnessed declines.
At the closing bell, Tata Motors, Bharti Airtel, Bajaj Auto, SBI, and ONGC were the top gainers.On the other hand, Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and TCS were among the top losers.
The Sensex experienced a decline of 0.26%, while the Nifty50 dipped by 0.22%. Notably, Bajaj Finance and Bajaj Finserv were the biggest laggards on the 30-share benchmark, each witnessing a 4% decline.
Conversely, Tata Motors rose by 3.58%, Bharti Airtel added 3%, and SBI increased by 1.6%.
In the broader markets, the BSE MidCap and SmallCap indices ended 0.17% and 0.63% weaker, respectively.
Sector-wise, the Nifty IT index slipped by 1.6%, the Nifty Media by 1.4%, and the Nifty FMCG by 1%. However, the Nifty Auto rallied by 1.3%.
Varun Aggarwal, founder and managing director of Profit Idea, stated, ‘The negative sentiment in Indian equities mirrored trends in Asian markets, with Hong Kong experiencing sharp declines amid China’s parliamentary session commencing without significant stimulus plans. Futures pricing indicated a negative opening for US stock markets following Wall Street’s retreat on Monday. In Europe, shares moved lower, reflecting investor caution ahead of key economic data releases’.
On the commodities front, gold prices remained steady near a three-month high, supported by weak US manufacturing and construction spending data.
Meanwhile, crude oil prices continued to decline due to weak demand, despite OPEC’s decision to extend voluntary output cuts. Brent futures stood at $82.70 per barrel, while US West Texas Intermediate (WTI) settled at $78.57 per barrel.
The day’s trading session highlighted the volatility and cautious sentiment prevailing in the global financial markets. Investors closely monitored economic indicators and geopolitical developments for further cues.
(With agency inputs)
The BSE Sensex closed at 73,677.13, dropping by 195.16 points. Similarly, the Nifty closed at 22,356.30, shedding 49.30 points. Out of the Nifty companies, 21 saw gains, while 29 witnessed declines.
At the closing bell, Tata Motors, Bharti Airtel, Bajaj Auto, SBI, and ONGC were the top gainers.On the other hand, Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and TCS were among the top losers.
The Sensex experienced a decline of 0.26%, while the Nifty50 dipped by 0.22%. Notably, Bajaj Finance and Bajaj Finserv were the biggest laggards on the 30-share benchmark, each witnessing a 4% decline.
Conversely, Tata Motors rose by 3.58%, Bharti Airtel added 3%, and SBI increased by 1.6%.
In the broader markets, the BSE MidCap and SmallCap indices ended 0.17% and 0.63% weaker, respectively.
Sector-wise, the Nifty IT index slipped by 1.6%, the Nifty Media by 1.4%, and the Nifty FMCG by 1%. However, the Nifty Auto rallied by 1.3%.
Varun Aggarwal, founder and managing director of Profit Idea, stated, ‘The negative sentiment in Indian equities mirrored trends in Asian markets, with Hong Kong experiencing sharp declines amid China’s parliamentary session commencing without significant stimulus plans. Futures pricing indicated a negative opening for US stock markets following Wall Street’s retreat on Monday. In Europe, shares moved lower, reflecting investor caution ahead of key economic data releases’.
On the commodities front, gold prices remained steady near a three-month high, supported by weak US manufacturing and construction spending data.
Meanwhile, crude oil prices continued to decline due to weak demand, despite OPEC’s decision to extend voluntary output cuts. Brent futures stood at $82.70 per barrel, while US West Texas Intermediate (WTI) settled at $78.57 per barrel.
The day’s trading session highlighted the volatility and cautious sentiment prevailing in the global financial markets. Investors closely monitored economic indicators and geopolitical developments for further cues.
(With agency inputs)
