Indian stock markets ended lower for the second consecutive session on Tuesday amid volatile trading. Weakness in heavyweight private banks and elevated crude oil prices led to the market’s volatility.
At the close, the Sensex was down 238.41 points, or 0.31 per cent, at 77,470.11, while the Nifty fell 50.80 points, or 0.21 per cent, to 24,187.70. The Nifty Midcap 100 index gained 0.3%, while the Nifty Smallcap 100 index advanced 0.5%.
Among the sectoral indices, the Nifty PSU Bank index ended as the top loser, falling 0.88%. Nifty IT and Oil and Gas suffered losses of 0.61% and 0.50%, respectively.
Further, the Nifty Bank index declined 0.19%, while the Nifty Financial Services index ended 0.16% lower. On the other hand, Nifty Realty (up 1.07%), Auto (up 0.93%), and Metal (up 0.63%) indices ended with healthy gains.
Shriram Finance, Bajaj Finserv, HCL Technologies, Eicher Motors, and UltraTech Cement were the gainers while HDFC Bank, Infosys, and State Bank of India (SBI) were the top laggards.
Over 120 stocks touched their 52-week high on the BSE, including Gabriel India, Gujarat Fluorochemicals, Manappuram Finance, Himadri Speciality Chemical, Ajanta Pharma, Sona BLW Precision Forgings, Balrampur Chini Mills, IndusInd Bank, Laurus Labs, Federal Bank, Exide Industries, Lloyds Metals & Energy, Titan Company, CemIndia Projects, Adani Energy Solutions, Solar Industries India, Shyam Metalics and Energy, Navin Fluorine International, Sun Pharmaceutical Industries, and Sai Life Sciences, among others.
The Indian rupee erased the previous session’s losses and settled 21 paise higher at 96.24 per US dollar.
Among some of the key stocks, BlueStone Jewellery and Lifestyle shares hit the 20 per cent upper circuit.
Brent crude could rally to more than $120 a barrel by the fourth quarter if disruptions to flows through the Strait of Hormuz persist, according to Goldman Sachs Group.