Benchmark equity indices Sensex and Nifty ended lower on Tuesday as renewed geopolitical tensions around the Strait of Hormuz and a record-low rupee weighed on investor sentiment, according to a report by PTI.
Market Performance
In a volatile trading session, the 30-share BSE Sensex declined by 251.61 points, or 0.33 per cent, to close at 77,017.79. During the day, it dropped as much as 754.37 points, or 0.97 per cent, to 76,515.03. The broader NSE Nifty fell by 86.50 points, or 0.36 per cent, to settle at 24,032.80.
Top Gainers and Losers
Nifty50 Top Gainers:
- Kwality Wall's: 29.84 (+8.91%)
- Mahindra & Mahindra: 3,211 (+3.36%)
- UltraTech Cement: 11,963 (+1.75%)
- Bajaj Finserv: 1,795 (+1.37%)
- Bajaj Finance: 958.60 (+0.89%)
- Infosys: 1,178 (+0.84%)
- HUL: 2,327 (+0.79%)
- Titan Company: 4,374 (+0.25%)
- Power Grid: 319.45 (+0.13%)
- ITC: 311.45 (+0.12%)
Nifty50 Top Losers:
- ICICI Bank: 1,251 (-1.54%)
- Eternal: 248.47 (-1.37%)
- Tech Mahindra: 1,452 (-1.32%)
- Axis Bank: 1,260 (-1.21%)
- Bharti Airtel: 1,806 (-1.15%)
- Maruti Suzuki: 13,426 (-1.14%)
- Larsen & Toubro: 4,055 (-1.13%)
- Adani Ports SEZ: 1,725 (-1.01%)
- HDFC Bank: 772.30 (-0.92%)
- SBI: 1,060 (-0.80%)
BSE Sensex Top Gainers:
- Kwality Wall's: 29.84 (+8.91%)
- Mahindra & Mahindra: 3,211 (+3.36%)
- UltraTech Cement: 11,963 (+1.75%)
- Nestle India: 1,478 (+1.43%)
- Bajaj Finserv: 1,795 (+1.37%)
- Hindalco: 1,055 (+1.16%)
- HDFC Life: 594.10 (+0.98%)
- Bajaj Finance: 958.60 (+0.89%)
- Infosys: 1,178 (+0.84%)
- HUL: 2,327 (+0.79%)
BSE Sensex Top Losers:
- Jio Financial Services: 248.45 (-1.70%)
- ICICI Bank: 1,251 (-1.54%)
- Coal India: 472.60 (-1.54%)
- Eternal: 248.47 (-1.37%)
- Tech Mahindra: 1,452 (-1.32%)
- Dr Reddy's: 1,271 (-1.25%)
- Axis Bank: 1,260 (-1.21%)
- Bharti Airtel: 1,806 (-1.15%)
- Maruti Suzuki: 13,426 (-1.14%)
- JSW Steel: 1,252 (-1.13%)
Expert Commentary
Vinod Nair, Head of Research at Geojit Investments Limited, commented: "Domestic equities witnessed a volatile session, closing lower as post-election optimism faded and sentiment re-aligned with global weakness amid rising geopolitical tensions. Elevated crude prices continued to pressure the rupee, which slipped to record lows. Despite these headwinds, the ongoing earnings season, with results slightly ahead of expectations, provided some support and triggered selective bottom-fishing."
Global Factors
Brent crude hovered around the $113 per barrel mark, adding to inflation concerns. The rupee slipped 2 paise to hit an all-time low of 95.25 (provisional) against the US dollar. In Asian markets, Hong Kong's Hang Seng ended lower, while markets in South Korea, Japan, and mainland China were closed. European markets were trading mostly higher, while US markets had ended lower on Monday.
Foreign Investment
Foreign Institutional Investors (FIIs) turned buyers on Monday, purchasing equities worth Rs 2,835.62 crore, according to exchange data. On Monday, the Sensex had gained 355.90 points, or 0.46 per cent, to settle at 77,269.40, while the Nifty rose 121.75 points, or 0.51 per cent, to close at 24,119.30.
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