The 50-share National Stock Exchange (NSE) Nifty also dropped 74.70 points or 0.29 per cent to 25,884.80. Since Friday, the Nifty has shed 307 points or over 1 per cent to slip below the 26,000 mark, while the Sensex has dropped 1,045 points or 1.2 per cent over the same period
Tata Motors Passenger Vehicles, Trent, Infosys, Power Grid, HDFC Bank, HCL Tech, Kotak Mahindra Bank, ICICI Bank, and Bajaj Finance were among the major laggards. Representational pic
Stock markets ended lower for the third straight session on Tuesday, with the benchmark Sensex losing nearly 314 points amid selling in IT and auto counters, as continued foreign fund outflows weighed on investor sentiment, news agency PTI reported.
In a volatile trade, the 30-share Bombay Stock Exchange (BSE) Sensex declined 313.70 points or 0.37 per cent to close at 84,587.01. Twenty-four of its constituents ended with losses while six advanced. During the session, the index fell 363.98 points or 0.42 per cent to touch an intraday low of 84,536.73.
Meanwhile, the 50-share National Stock Exchange (NSE) Nifty also dropped 74.70 points or 0.29 per cent to 25,884.80, reported PTI. Since Friday, the Nifty has shed 307 points or over 1 per cent to slip below the 26,000 mark, while the Sensex has dropped 1,045 points or 1.2 per cent over the same period.
Among Sensex stocks, Tata Motors Passenger Vehicles, Trent, Infosys, Power Grid, HDFC Bank, HCL Tech, Kotak Mahindra Bank, ICICI Bank, and Bajaj Finance were among the major laggards.
Bharat Electronics, State Bank of India, Tata Steel, Eternal, Bharti Airtel and Reliance Industries, however, were the gainers, reported PTI.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 4,171.75 crore on Monday. Domestic Institutional Investors (DIIs), on the other hand, bought stocks valued at Rs 4,512.87 crore in the previous session.
“The domestic market witnessed sharp volatility on monthly expiry day, driven by a weakening INR and continued FII outflows. Caution prevailed as investors awaited clarity on a possible rate cut in the upcoming FOMC meeting and progress on the Indo-US trade deal, despite some improving signals,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
Broader markets, however, stayed positive, with the BSE smallcap index gaining 0.20 per cent and the midcap index rising 0.19 per cent.
Among sectoral indices, IT dipped 0.75 per cent, BSE Focused IT by 0.64 per cent, consumer durables by 0.53 per cent, teck by 0.39 per cent, energy by 0.32 per cent, auto by 0.25 per cent and utilities by 0.25 per cent. Realty, commodities, healthcare, telecommunication, capital goods and metal indices were the gainers.
In Asia, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng closed in the green.
European markets were trading mixed, while US markets ended sharply higher on Monday.
Brent crude, the global oil benchmark, slipped 0.69 per cent to USD 62.93 per barrel.
On Monday, the Sensex had declined 331.21 points or 0.39 per cent to finish at 84,900.71, while the Nifty fell 108.65 points or 0.42 per cent to 25,959.50.
(With PTI inputs)
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