Stock Market ends in the red; Sensex loses 500 points
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
The Stock Market ended lower on Monday after the fourth day of selling, but the Nifty 50 managed to hold on to the 25,000 level.
The broader markets closed with gains, with buying seen across the sectors, barring IT shares.
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At close, Sensex settled at 82,253.46, down 247 points, or 0.30%, while the Nifty 50 ended the day 68 points, or 0.27%, lower at 25,082.30.
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Broader indices outperformed the main indices with BSE Mid and Smallcap indices rising 0.5% each.
On Nifty, some of the top gainers were Eternal up by 2.90%, Titan Company up by 1.20% and HDFC Life Insurance Company up by 1.05%. On the other hand, around 27 stocks ended in the red. These included Jio Financial Services down by 2%, Tech Mahindra down by 1.72% and Wipro down by 1.57%.
Nearly 180 stocks on the BSE touched their 52-week highs. These included Anand Rathi, Piramal Enterprises, Laurus Labs, Vishal Mega Mart, Global Health, EID Parry, Ramco Cements, among others.
On the other hand, around 57 stocks hit their 52-week lows during the session. These included SpiceJet, Ola Electric Mobility, Protean eGov Technologies, and Easy Trip Planners.
Among the sectors, most of them ended with gains. Nifty Realty was up by 1.39%, Media up by 1.36%, Healthcare up by 1%, Consumer Durables up by 0.88%, Pharma up by 0.83%, and PSU Bank up by 0.73%.
Nifty Bank ended flat, while on the other hand, Nifty IT fell 1.11%.
Among the individual performances, Ola Electric shares rallied over 19% as Q1 losses narrowed to Rs 428 crore. Shopping market giant DMart shares fell after the company posted flat profit in Q1.
AU Small Finance Bank shares tumbled 2% after domestic brokerage Kotak Institutional Equities downgraded its rating on the stock.
The shares of defence companies dropped in trade as investors continued to book profits at elevated levels.
Garden Reach Shipbuilders & Engineers (GRSE) shares were the top loser on the Nifty India Defence index, dropping nearly 4%.
Amid the mixed global environment, investors remain watchful of developments related to tariffs and their potential impact on global markets.
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