Stock Market losses early gains to end in red
At close, the Sensex was 135.03 points (0.18 per cent) lower, settling at 75,183.36, while the Nifty was at 23,654.70, down 4.30 points or 0.02 per cent.
The stock market on Tuesday snapped the three-day losing streak to end higher. Nifty 50 closed above 24,800 on the back of buying in heavyweights and across the sectors.
At close, the Sensex rose 446.93 points, or 0.55%, to 81,337.95, while the Nifty gained 140.20 points, or 0.57%, to 24,821.10.
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The BSE Midcap index rose 0.8%, while the Smallcap index closed a percent higher. The overall market capitalisation of BSE-listed firms grew to over ₹451 lakh crore from ₹448 lakh crore in the previous session.
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Around 114 stocks hit their 52-week highs, while in contrast, 91 stocks touched 52-week lows. Those on the highs included Bosch Ltd, EID Parry India Ltd, HDFC Asset Management Company Ltd, Laurus Labs Ltd, Shyam Metalics and Energy Ltd, and Torrent Pharmaceuticals Ltd.
The key names on the lows were Tata Consultancy Services Ltd (TCS), Colgate Palmolive (India) Ltd, Five-Star Business Finance Ltd, Tejas Networks Ltd, and Spicejet Ltd.
Adani Power shares rose nearly 4% after the Adani Group company said its board will consider a stock split on August 1.
On the Nifty50, around 36 stocks ended in the green, with top gainers being Jio Financial Services (up 4.77%), Reliance Industries (up 2.09%), and Asian Paints (up 1.97%).
The top losers were SBI Life Insurance Company (down 0.93%), Axis Bank (down 0.80%), and TCS (down 0.72%).
Among sectoral indices, almost all ended with gains. Nifty Realty, Healthcare, Pharma, Oil & Gas rose by over a per cent each.
Nifty Bank climbed 0.24%, while the Financial Services index rose 0.32%.
Paras Defence shares dropped nearly 6% intraday to trade at Rs 664 apiece. Mazagon Dock Shipbuilders shares dropped 5% intraday after the company reported a net profit of Rs 452 crore for the first quarter.
The stock market has been in a downtrend for four consecutive sessions amid concerns over a delayed India-US trade deal. In just four sessions, the Sensex has crashed over 2,100 points, or nearly 3%, while the Nifty 50 has fallen by 2.5%.
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