Stocks

sensex: Sensex snaps 7-session gaining streak, Nifty ends below 17,700

Benchmark equity indices reversed their intra-day gains to end with a fall on Tuesday, dragged by the index heavyweight, , financial and private bank stocks. Today’s fall comes after the rise of the ceremonial Muhurat trading session on Monday. The 30-share Sensex ended 288 points lower at 59,544, while its broader peer, Nifty50, ended just above the 17,650 mark.

Among Sensex stocks,

, , , , and Reliance were the top gainers in today’s trading session, falling around 1.5-2.5 per cent. , , , and also settled lower. However, , , L&T and Dr Reddy’s Labs ended the session with gains. Sectorally, the Nifty PSU Bank rose 3.50 per cent, and Nifty Auto surged 1.24 per cent. While Nifty Pvt Bank and Nifty FMCG closed lower. In the broader market, Nifty Midcap50 rose 0.47 per cent while Smallcap50 fell 0.45 per cent.

“The domestic market pared its early gains with FMCG and private banks pressuring the benchmark. Market attention has shifted to central bank policy announcements since the European Central Bank is expected to hike interest rates at its upcoming policy meeting,” Vinod Nair, Head of Research at

, said.

“The impending US GDP data will give additional clarity to the expectation that the Fed will temper its aggression in regard to rate hikes,” Nair added.

Earlier in Asian markets, Japan’s Nikkei 225 rose 1.02 per cent while China’s Shanghai Composite and South Korea’s Kospi plunged 0.04 per cent and 0.05 per cent, respectively.

The Indian rupee ended slightly lower versus the US dollar, weighed down by dollar demand from importers amid lower-than-usual volumes. The rupee closed at 82.725 per US dollar against 82.675 in the previous session. While Brent crude January futures declined 1.25 per cent to $90.07 per barrel.

The market capitalisation of all listed companies on BSE decreased by over Rs 85,000 crore to Rs 275.62 lakh crore. The market breadth skewed in favour of bears. About 1,982 stocks declined, 1,438 gained, and 109 remained unchanged.


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