Share Market Today: Sensex Sinks 693 Points; Nifty Ends Below 24,150. HDFC Bank Falls 3%
Share Market Today: On the 30-share Sensex platform, HDFC Bank became the main laggard, falling 3.46 per cent. Bajaj Finance, Tata Motors, Tata Steel, SBI, PowerGrid were the other losers
Share Market Today: The two key equity benchmarks, Sensex and Nifty, on Tuesday closed in the red amid volatility tracking mixed economic cues. The BSE Sensex declined 693 points to 78,956. On the other hand, the NSE Nifty50 settled at 24,139, sliding 208 points.
Stock update
On the 30-share Sensex platform, HDFC Bank became the main laggard, falling 3.46 per cent. Bajaj Finance, Tata Motors, Tata Steel, SBI, PowerGrid were the other losers. On the flip side, Titan, HCLTech, Nestle, Sun Pharma, Reliance, Airtel, and M&M emerged gainers.
In the broader indices, BSE Midcap and Smallcap indices lost 1 per cent each.
Sectoral update
Among the sectors, Banking, Financial Services, Metal, OMC, and Realty ended lower falling up to 1.87 per cent. Healthcare, IT, and consumer durables closed in the green.
In the previous session on Monday, the BSE Sensex dropped 57 points to close at 79,649, while the NSE Nifty50 fell 21 points to 24,346.
"The weightage of HDFC Bank, the biggest private lender in India, would rise in its MSCI Global Standard Index over the course of two tranches. Although the street had expected the same thing to happen all at once," Arvinder Singh Nanda of Master Capital Services Ltd said.
Global market
In Asian markets, Seoul, Tokyo Shanghai and Hong Kong settled in the positive territory. European markets were trading mostly in the green. The US markets ended on a mixed note on Monday.
Foreign Institutional Investors (FIIs) again turned sellers on Monday as they offloaded equities worth Rs 4,680.51 crore after a day's breather, according to exchange data.
Global oil benchmark Brent crude declined 0.35 per cent to $82.01 a barrel.
Rupee settles flat
The rupee witnessed range-bound trading and settled for the day on a flat note at 83.97 (provisional) against the US dollar on Tuesday, as weak domestic markets and a surge in crude oil prices weighed on investor sentiments.
Forex traders said risk aversion in the global markets amid heightened geopolitical tension in the Middle East between Israel and Iran also dented sentiments.
At the interbank foreign exchange market, the local unit traded in a tight range as it opened at 83.95 and finally settled at 83.97 (provisional) against the American currency, unchanged from its previous close.
On Monday, the rupee settled for the day lower by 2 paise at 83.97 against the American currency. The local unit had slumped 37 paise to settle at an all-time low of 84.09 against the US dollar on August 5.
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