Indian benchmark equity indices had their biggest single-day drop since early-June, tracking weakness in Asian peers.
The India Volatility Index ended higher for the third straight day registering the biggest single-day gain in two monthsExtending losses in the afternoon session, headline indices BSE Sensex and Nifty 50 settled nearly 2 per cent down on Tuesday with bank, financials, and auto stocks dragging the indices. Sensex tanked 660 points or 1.80 per cent to close the session at 36,033, while the broader Nifty 50 index declined 195 points or 1.81 per cent to settle at 10,607. Index heavyweights such as HDFC, HDFC Bank, Reliance Industries (RIL), Axis Bank and ICICI Bank contributed the most to the indices’ losses. “Indian benchmark equity indices had their biggest single-day drop since early-June, tracking weakness in Asian peers. Volumes on the NSE were on the lower side with Banks, Metals and Auto stocks underperforming while Pharma stocks did well,” said Deepak Jasani, Head Retail Research, HDFC Securities.
IndusInd Bank top Sensex loser: IndusInd Bank declined the most, down 5.33 per cent, followed by Axis Bank, Maruti Suzuki, Power Grid Corporation of India, Bajaj Finserv and State Bank of India (SBI). While, Titan Company, Bharti Airtel and Bajaj-Auto were the only gainers on the pack.
Nifty Private Bank top sectoral loser: Barring Nifty Pharma, which gained half a per cent, all the sectoral indices settled in the red. Nifty Private Bank index fell the most, down 3.32 per cent. Nifty Metal, Nifty Financial Services and Nifty Auto were also down in the range of 2.25-2.50 per cent.
India VIX: India VIX, the volatility index, opened at 25.25 on Tuesday. However, the high of the volatility index was at 27.26 before closing at 26.7, up 5.73 per cent. “The India Volatility Index ended higher for the third straight day registering the biggest single-day gain in two months,” Deepak Jasani added.
Broader market: The broader market underperformed the frontline indices. S&P BSE MidCap index fell 0.95 per cent or 127 points to 13,277, while S&P BSE SmallCap index declined 0.93 per cent or 119 points to 12,665
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
