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 Indian stock market on Friday halted the four-day losing streak amid buying across the sectors, with Nifty closing above 25,900.
At close, the Sensex was up 447.55 points or 0.53 percent at 84,929.36, and the Nifty was up 150.85 points or 0.58 percent at 25,966.40.
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The mid and small-cap segment clocked stronger gains with the BSE Midcap index jumping 1.26% while the Smallcap index rose by 1.25%.
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The overall market capitalisation of BSE-listed firms jumped to over Rs 471 lakh crore from Rs 465.8 lakh crore in the previous session.
Among the sectoral performances, most of the indices ended higher. Nifty Realty, Auto, and Healthcare jumped over 1% while Nifty Oil and Gas and Pharma also jumped by almost 1% each.
Nifty Bank ended 0.27% higher at 59,069.20, while the Financial Services index rose by 0.41%.
On Nifty, around 41 stocks ended higher with the top gainers including Shriram Finance up by 4.10%, Max Healthcare Institute up by 2.62%, and BEL up by 2.49%.
The top losers were HCL Technologies down by 1.18%, Hindalco Industries down by 0.34%, and Kotak Mahindra Bank down by 0.23%.
Out of 4,331 stocks traded on the BSE, 2,731 advanced, while 1,445 declined. Some 155 stocks remained unchanged.
On BSE, 100 stocks hit their 52-week highs while as many as 179 stocks hit their 52-week lows in intraday trade.
Those on the highs included Vedanta, Titan Company, Shriram Finance, Hindalco Industries, and Federal Bank, while on the lows were UBL, ACC, Patanjali Foods, and Page Industries.
Shares of Indian IT companies extended gains for the third consecutive session.
Some of the key IT companies, including Persistent Systems, Tata Consultancy Services, Tech Mahindra, Infosys, Wipro, and Mphasis, traded in the green.
Coforge, LTI Mindtree, and HCL Tech shares, meanwhile, were trading in the red, falling up to 1%. The domestic market tracked the positive global cues after the US CPI fueled hopes that the US Federal Reserve may cut rates again in January.
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