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 Monday began the week on a strong note, led by buying across the sectors. Positive global cues and persistent buying by FIIs and DIIs also helped in market’s performance.
At close, the Sensex was up 638.12 points or 0.77% at 85,567.48, and the Nifty was up 206 points or 0.79% at 26,172.40.
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The BSE Midcap index rose by 0.86% and the Smallcap index jumped 1.12%. The market capitalisation of BSE-listed firms rose to Rs 475 lakh crore from Rs 471 lakh crore in the previous session.
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Barring Nifty Consumer Durables, which was down by 0.16%, all sectoral indices ended higher.
Nifty IT jumped 2.06%, followed by Nifty Metal, which was up by 1.41%. Further, the Nifty Bank ended 0.40% higher at 59,304, while the Financial Services index climbed 0.37%.
On Nifty, as many as 38 stocks ended higher. Those on the gaining side were Trent up by 3.86%, Shriram Finance up by 3.67%, and Wipro up by 3.10% ending as the top gainers.
Those ending as top losers were HDFC Life Insurance Company, down by 0.71%, Tata Consumer down by 0.64%, and SBI was down by 0.59%.
Out of 4,501 stocks traded on the BSE, 2,794 advanced, while 1,515 declined.
Some 192 stocks remained unchanged.
On the BSE, 143 stocks hit their 52-week highs while 129 stocks hit their 52-week lows in intraday trade. Those on the highs were Vedanta, Maruti Suzuki India, Hindalco Industries, TVS Motor Company, Shriram Finance, Samvardhana Motherson International, and IDFC First Bank.
On the lows were Concord Biotech, Epigral, GTL Infrastructure, and ICICI Prudential Asset Management Company.
Indian Rupee closed at 89.65 against the dollar, up from an opening level of 90.15 and the previous close of 90.25.
Shares of Hindustan Zinc jumped more than 3% as silver prices soared to fresh record highs. Shares of railway-related companies rose sharply amid strong buying interest across the sector.
IRCTC advanced over 1% to Rs 680.80 apiece on the NSE. RailTel Corporation of India shares rose 2.3% to Rs 340.95 apiece, while the shares of Jupiter Wagons surged over 13% to Rs 294.50 on the NSE, up 13.16%.
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