Share Market Today: Indices Close Lower, Sensex Settles Under 78,500, Nifty About 26 Points Down
This almost flat ending to the trading session was attributed to the investors who preferred to remain on the sidelines on the lookout for more triggers as foreign fund outflows continued
The stock market on Tuesday ended slightly lower after opening trading on a high note. The BSE Sensex closed the session more than 50 points lower at 78,472.87, while the NSE Nifty50 settled for the day at 23,727.65, about 26 points down.
This almost flat ending to the trading session was attributed to the investors who preferred to remain on the sidelines on the lookout for more triggers as foreign fund outflows continued.
On the 30-share Sensex platform, Tata Motors, ITC, Nestle, M&M, and TCS emerged among the gainers. On the other hand, PowerGrid, State Bank of India, Titan, Tata Steel, and IndusInd Bank remained among the laggards for the day.
Foreign Institutional Investors (FIIs) dumped Indian equities worth Rs 168.71 crore on Monday, according to official exchange data. In Asian markets, Shanghai and Hong Kong closed the day higher, while Seoul and Tokyo settled in the negative territory. Wall Street ended trading on Monday in green. The global oil benchmark Brent crude climbed 0.62 per cent to touch $73.08 a barrel.
The broader markets settled for the day on a mixed note. The Nifty Midcap 50 index dominated among the laggards. Meanwhile, the Nifty Microcap 250 index climbed 0.63 per cent by the end of the session.
Sector-wise, the Nifty Auto closed on a high at 0.57 per cent, followed by the FMCG and Oil & Gas indices which gained 0.54 per cent each. On the other hand, the Nifty Metal index declined 0.83 per cent.
The Indian rupee continued to drag for the second straight session and depreciated 9 paise to close at a fresh all-time low of 85.20 (provisional) against the US dollar on Tuesday. This decline was attributed to a robust American currency and weak domestic equities.
Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan, said, "The rupee fell to a fresh all-time low on weak domestic markets and a strong US dollar due to increased demand from importers and surging crude oil prices."
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