Sensex Snaps Two-Session Rally, Sinks 435 Points, Nifty Ends Below 18,000; HDFC Bank Down 3%
The broader markets, however, put up a strong show with the BSE Midcap and Smallcap indices gaining 1.3 per cent and 1.4 per cent, respectively
New Delhi: After rising sharply in the previous two sessions, the key equity benchmarks, Sensex and Nifty, on Tuesday took a pause due to weak global sentiments and soaring crude oil rates.
The benchmark S&P BSE Sensex oscillated within a range of 700 points intra-day. The 30-share BSE Sensex sank 435 points (0.72 per cent) to close at 60,177, while the broader NSE Nifty moved 96 points (0.53 per cent) lower to settle at 17,957.
HDFC Bank was the top laggard on the 30-pack index, down 3 per cent. This was followed by HDFC (down 2 per cent), Bajaj Finserv, Kotak Bank, IndusInd Bank, and RIL.
On the upside, NTPC and PowerGrid advanced nearly 3 per cent and 2.4 per cent, respectively, followed by ITC, Nestle India, Titan, TCS, and Asian Paints.
The broader markets, however, put up a strong show with the BSE Midcap and Smallcap indices gaining 1.3 per cent and 1.4 per cent, respectively.
Six out of the 15 sector gauges, compiled by NSE, ended in the red. Nifty Bank and Nifty Financial Services underperformed the index by falling as much as 1.47 per cent and 1.58 per cent, respectively.
On Monday, Sensex surged 1,335 points (2.25 per cent) to close at 60,612, while Nifty moved 383 points (2.17 per cent) higher to settle at 18,053.
Foreign portfolio investors pumped in more than Rs 1,150 crore in to equities on Monday amid a rally in the market.
Meanwhile, Brent crude futures surged 1.44 per cent to $109.10 a barrel. US West Texas Intermediate futures rose 1.51 per cent.
According to the PTI, Asian markets saw mixed trends as Japanese benchmark Nikkei 225 was trading marginally lower, while Hong Kong's Hang Seng and South Korea's Kospi indices were in the positive terrain. On Monday, key US indices ended the day with gains.
European markets nudged higher on Tuesday as global investors sought a catalyst, with eyes on the Ukraine-Russia conflict and economic indicators. The pan-European Stoxx 600 edged 0.4 per cent higher by mid-morning after a cautious start, with chemicals adding 1.2 per cent while basic resources slid 0.8 per cent.
The rupee continued its winning momentum on Tuesday, rising 24 paise to settle at 75.29 against the US dollar, as the American currency and crude oil prices retreated from recent high levels.
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