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 witnessed a volatile trading session on Monday with the benchmark indices ending lower amid selling across sectors, barring the IT. Nifty 50 index closed below the 26,000 mark.
At close, Sensex was down 331.21 points or 0.39% at 84,900.71, while the Nifty 50 closed down 108.65 points or 0.42% at 25,959.50.
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Broader market indices underperformed the key indices, with the BSE midcap down 0.3% while the smallcap index shed 0.8%.
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Among the sectors, Nifty Realty was one of the biggest drags, slipping 2.05%.
It was followed by Nifty Metal down by 1.23% and Nifty Chemicals down by 1.31%. On the other hand, Nifty IT bucked the trend and closed 0.41% higher.
On Nifty, Tech Mahindra, Eicher Motors, Bajaj Auto, Wipro, and Infosys were among the major gainers. On the other hand, the losers were JSW Steel, Bharat Electronics, Max Healthcare, Grasim Industries, Dr Reddy’s Labs, among others.
Nearly 100 stocks hit a 52-week high on the BSE while more than 300 stocks hit a 52-week low.
Those on the highs included Asahi India, M&M Financial, Federal Bank, Eicher Motors, Shriram Finance, Axis Bank, Hero MotoCorp, among others.
On the other hand, those hitting lows included Chambal Fertilisers, Deepak Nitrite, Tejas Networks, Cohance Life, PCBL Chemical, SJVN, Sheela Foam, Jindal Saw, United Breweries, Colgate Palmolive, Thermax, KNR Construction, CG Consumer, Vedant Fashions, SKF India, Bata India, Clean Science, among others.
Defence stocks dropped in trade, pushing the Nifty India Defence index down more than 2.5%. In terms of some of the stock-specific performances, HAL shares dropped 3% on the sentimental impact following the Tejas fighter jet crash.
Shares of Natco Pharma fell 3% after observations from the USFDA, while the Lupin shares shed 1.5% on observations from the USFDA.
The shares of IndiGo-parent Interglobe Aviation are around 2%. The shares of real estate companies extended losses, pushing the Nifty Realty index down more than 2% to close in the red for the fifth consecutive session.
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