Sensex ends 1,282 points lower, Nifty below 24,600; Infosys down nearly 4%
Benchmark stock market indices closed lower on Tuesday, with Sensex and Nifty shedding over 1.5% as investors indulged in profit booking. IT stocks took the worst hit, further driving the decline on Dalal Street.The S&P BSE Sensex was down by 1,281.68 points to end at 81,148.22, while the NSE Nifty50 lost 346.35 points to close at 24,578.35.Sundar Kewat, Technical and Derivatives Analyst, Ashika Institutional Equity, said that geopolitical tensions remained in focus as market participants monitored the fragile ceasefire between India and Pakistan, adding to the cautious sentiment.advertisement
Sun Pharmaceuticals emerged as the top gainer on Sensex, rising 0.84%, followed by Adani Ports which added 0.48%. Bajaj Finance edged up 0.29%, while State Bank of India gained a modest 0.04%. Tech Mahindra rounded out the gainers with a marginal increase of 0.03%.Infosys witnessed the steepest decline, plunging 3.54%, followed by PowerGrid Corporation which dropped 3.40%. Eternal fell 3.38%, HCLTech declined 2.94%, and Tata Consultancy Services lost 2.88%, completing the list of worst performers for the day."The downside was primarily triggered by profit-taking and cautious investor sentiment following the sharp run-up, coupled with concerns over mixed corporate earnings results and global cues," said Vaibhav Vidwani, Research Analyst at Bonanza. Nifty Midcap100 and Nifty Smallcap100 indices ended the day on a positive note, gaining 0.19% and 0.81% respectively, while India VIX declined 1.04%.advertisementAmong sectoral indices, Nifty Media led the gainers with a rise of 1.66%, followed by Nifty PSU Bank which climbed 1.56%. Nifty Pharma advanced 1.22%, while Nifty Healthcare Index rose 0.97%. Other sectors that closed in the green included Nifty Consumer Durables, which edged up 0.04%.Nifty IT fell 2.42%, while Nifty FMCG dropped 1.34%. Nifty Auto lost 1.00%, followed by Nifty Oil & Gas which declined 0.91%. Nifty Private Bank and Nifty Financial Services fell 0.99% and 0.88% respectively, while Nifty Metal slipped 0.89% and Nifty Realty decreased 0.72%."Going forward, investors will closely watch upcoming inflation data and quarterly earnings for further direction, with expectations of volatility but underlying bullishness intact," said Vidwani. (Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch
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