Share Market Update: On January 24, Indian indices started trading with a pessimistic stance, with Nifty trading below 21,200. The Sensex recorded a decline of 181.47 points, closing at 70,189.08, down 0.26 per cent.
Nifty fell by 36.70 points or 0.17 percent and reached 21,202.10.
Also read: Terrible Tuesday! Why did Sensex break today? Will the stock market bounce again?
Of the traded shares, 1351 saw gains, 934 declined and 87 remained unchanged.
Tuesday’s story
Equity benchmark Sensex fell 1,053 points to close below the 71,000 level on Tuesday as index heavyweights HDFC Bank, Reliance Industries and SBI pulled out amid rising tensions in the Middle East.
According to traders, selling pressure increased on most counters due to concerns over weak quarterly performance of corporates.
After opening with a gain of nearly 450 points, the 30-share BSE Sensex fell 1,053.10 points or 1.47 per cent to close at 70,370.55.
The index touched an intraday low of 70,234.55. It also touched an intraday high of 72,039.20.
Broader Nifty also fell 330.15 points or 1.53 per cent to 21,241.65.
IndusInd Bank was the biggest loser among Sensex companies, falling 6.13 per cent, followed by SBI (3.99 per cent), Hindustan Unilever (3.82 per cent), Axis Bank (3.41 per cent) and HDFC Bank (3.23 per cent). .
On the contrary, Sun Pharma, Bharti Airtel, ICICI Bank and PowerGrid bucked the trend and closed with gains of up to 3.67 per cent. TCS and Bajaj Finserv were other gainers.
Shares of Zee Entertainment Enterprises Ltd (ZEEL) fell as much as 33 per cent on Tuesday after Sony canceled the proposed US$10 billion merger of its Indian unit with the media conglomerate.
Meanwhile, private sector Axis Bank on Tuesday reported 4 per cent rise in standalone net profit to Rs 6,071 crore for the third quarter ending December 2023.
S&P BSE Midcap fell 2.95 per cent to 37,247.84 and the Midcap index fell 2.79 per cent to 43,378.40.
Except healthcare, all sectoral indices closed in the red.
Realty and services indices fell the most, 5.46 per cent and 4.06 per cent respectively. While metals declined by 3.97 per cent, oil and gas declined by 3.96 per cent and energy by 3.70 per cent. Commodities, FMCG, financial services and capital goods were the other laggards.
On the other hand, the healthcare index rose 1.02 percent.
In Asia, Hong Kong’s Hang Seng closed with a sharp rise of 2.63 percent and China’s Shanghai Composite closed with a gain of 0.52 percent. Japan’s Nikkei 225 fell 0.8 percent.
European markets were trading lower on Tuesday, with Germany’s DAX down 0.09 per cent and France’s CAC 40 down 0.16 per cent. London’s FTSE 100 also declined by 0.13 percent.
In the US markets on Monday, Dow, S&P 500 and Nasdaq closed with a gain of up to 0.36 percent.
Domestic stock markets were closed on January 22 due to the consecration ceremony in Ayodhya, while NSE and BSE held normal trading sessions on Saturday.
On Saturday, the 30-share BSE Sensex closed 259.58 points or 0.36 per cent lower at 71,423.65.
Nifty closed at 21,571.80, down 50.60 points or 0.23 per cent.
Meanwhile, global oil benchmark Brent crude fell 0.40 per cent to US$79.74 per barrel on Tuesday.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 545.58 crore on Saturday.
(With PTI inputs)
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