Benchmark indices Sensex and Nifty extended their losing streak to a sixth consecutive session on Tuesday, amid weakness across global markets as rising crude oil prices and a sharp sell-off in US Treasuries weighed on investor sentiment. The 30-share BSE Sensex closed 492.70 points or 0.63 per cent lower at 77,235.46. During the day, the benchmark hit a high of 77,575.21 and a low of 77,234.36, gyrating 340.85 points. Similarly, the 50-share NSE Nifty fell 132.75 points or 0.55 per cent to close at 24,154.90. However, the broader market ended the session mixed. While the BSE MidCap Select Index dropped 86.70 points or 0.46 per cent, the BSE SmallCap Select Index added 22.26 points or 0.24 per cent.
Among sectoral indices, Nifty IT was the biggest loser, down 1.93 per cent, followed by Nifty Realty, which fell 1.42 per cent. Meanwhile, Nifty Auto gained 0.30 per cent.
“Global markets also reflected a more cautious mood. Asian equities ended mostly lower, led by a 2.5% decline in Japan’s Nikkei 225, while South Korea’s Kospi reversed earlier gains as higher energy prices and renewed inflation concerns offset optimism from corporate earnings. European markets traded lower through the session, with investors similarly weighing the implications of elevated crude oil prices and higher bond yields on the global economic outlook,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a SEBI-registered Research Analyst firm.
Top gainers and losers
Among the 30-Sensex firms, Axis Bank, Power Grid, M&M, Bajaj Finance and L&T were the major gainers, with Axis Bank gaining 0.89 per cent today. On the flip side, Asian Paints, Infosys, HCL Tech, Bharati Airtel and TCS were among the laggards. Asian Paints shares fell 2.19 per cent today.
Rupee traded largely flat
Meanwhile, the Indian rupee traded largely flat near 95.67, but broader weakness continued as the currency faced hurdles in sustaining strength. However, it depreciated 7 paise to close at 95.68 (provisional) against the US dollar, weighed down by elevated crude oil prices and lingering geopolitical tensions in West Asia. Forex traders said the USD/INR pair is likely to trade with a slight negative bias, pressured by the delay in the deal between the US and Iran, rising crude oil prices and broader dollar support.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
