Sensex ends 95 pts lower after gyrating over 400 pts; Nifty50 holds 9,100
NEW DELHI: The domestic equity market closed in the red for a fourth straight session on Tuesday after benchmark indices gave up all of the morning gains due to profit booking at higher levels and disappointing monsoon forecast by the IMD.
The sentiment also turned weak ahead of TCS Q4 earnings -- scheduled to be released after the market closing -- and selling by the FIIs.
On Tuesday, the 30-share index of BSE closed 95 points lower at 29,319.10 with Reliance Industries, Sun Pharma and Tata Motors being the major contributors to the fall. The benchmark index, which opened at 29,487.78 against previous close of 29,413.66, hit an intraday high and a low of 29,701.19 and 29,286.38, respectively.
On similar lines, the Nifty50 index of National Stock Exchange (NSE) ended 34 points lower at 9,105.15.
In the midcap space, the BSE Midcap index fell 91 points to settle at 14,296.13 due to a fall in the shares of JSW Steel, Bajaj Financial Services and ABB.
"Markets ended lower, largely influenced by the local cues. Sentiment was upbeat initially in reaction to the World Bank's latest report on Indian economy combined with supportive Asian markets. But, things changed dramatically as the session progressed and Nifty not only lost the early gains but also witnessed sharp fall in the latter half," said Jayant Manglik, President, Retail Distribution, Religare Securities.
“Weak opening in the European markets and anxiety ahead of IMD report were the major dampeners,” he added.
In the sectoral landscape, realty stocks bled the most, whereas metal stocks emerged as the second worst performers.
Among individual stocks, shares of Adani Enterprises rallied 18 per cent to settle at Rs 144.90 apiece, while those of Raymond gained 13 per cent to close at Rs 729.80. On the contrary, shares of Indiabulls Real Estate lost 9 per cent to end the day at 134.80.
On the global front, gold held steady on Tuesday supported by geopolitical tensions over North Korea and after falling from a five-month high in the previous session on a firmer dollar.
China's main stock indices fell for the third session in a row on Tuesday amid worries over increasing regulation and the sustainability of the country's economic growth.
The bluechip CSI300 index fell 0.5 per cent to 3,462.74 points, while the Shanghai Composite Index lost 0.8 per cent to 3,196.71.
European stocks opened lower.
The sentiment also turned weak ahead of TCS Q4 earnings -- scheduled to be released after the market closing -- and selling by the FIIs.
On Tuesday, the 30-share index of BSE closed 95 points lower at 29,319.10 with Reliance Industries, Sun Pharma and Tata Motors being the major contributors to the fall. The benchmark index, which opened at 29,487.78 against previous close of 29,413.66, hit an intraday high and a low of 29,701.19 and 29,286.38, respectively.
On similar lines, the Nifty50 index of National Stock Exchange (NSE) ended 34 points lower at 9,105.15.
In the midcap space, the BSE Midcap index fell 91 points to settle at 14,296.13 due to a fall in the shares of JSW Steel, Bajaj Financial Services and ABB.
"Markets ended lower, largely influenced by the local cues. Sentiment was upbeat initially in reaction to the World Bank's latest report on Indian economy combined with supportive Asian markets. But, things changed dramatically as the session progressed and Nifty not only lost the early gains but also witnessed sharp fall in the latter half," said Jayant Manglik, President, Retail Distribution, Religare Securities.
“Weak opening in the European markets and anxiety ahead of IMD report were the major dampeners,” he added.
In the sectoral landscape, realty stocks bled the most, whereas metal stocks emerged as the second worst performers.
Among individual stocks, shares of Adani Enterprises rallied 18 per cent to settle at Rs 144.90 apiece, while those of Raymond gained 13 per cent to close at Rs 729.80. On the contrary, shares of Indiabulls Real Estate lost 9 per cent to end the day at 134.80.
On the global front, gold held steady on Tuesday supported by geopolitical tensions over North Korea and after falling from a five-month high in the previous session on a firmer dollar.
China's main stock indices fell for the third session in a row on Tuesday amid worries over increasing regulation and the sustainability of the country's economic growth.
The bluechip CSI300 index fell 0.5 per cent to 3,462.74 points, while the Shanghai Composite Index lost 0.8 per cent to 3,196.71.
European stocks opened lower.
