The BSE benchmark Sensex lost 396 points to close at 60,322 on Tuesday, the second trading day of the week. The Stock Exchange index Nifty also lost 110 points.
While global market sentiment was mixed, the bear’s grip on the domestic market tightened. Stockbroking firms said trading was volatile as investors were concerned about inflationary pressures and consequent impact on demand, which could lead to higher prices. Moreover, traders attributed the fall in the market to gains in shares of leading companies including market leader Reliance, SBI and ICICI Bank.
Market value down Rs 75,000 crore: 1,602 shares out of 3,474 companies traded on the stock exchange. 1,729 shares declined. 143 shares remained unchanged. 190 stocks recorded new 52-week highs and 40 stocks recorded new lows. Also, 362 stocks rose sharply to record highs and 240 stocks fell sharply to record lows. The market capitalization declined by Rs 75,000 crore to Rs 269.72 lakh crore at the end of trading. The number of registered investors has increased to 8,66,53,079.
“Bear ‘hold: The Sensex opened 36.67 points higher at 60,755.38 in the morning and touched a high of 60,802.79. Trapped in a bear’s grip.
Maruti Suzuki Aparam: Out of the 30 top-ranked stocks in the Sensex, only 9 gained. 21 stocks fell. Leading car maker Maruti Suzuki topped the list with a gain of 7.31%. It was followed by M&M at 3.44 per cent and Tech Mahindra at 1.56 per cent.
In addition, L&T, Bajaj Finance, Infosys, Bajaj FinServe, Bajaj Auto and TCS were among the gainers.
Reliance slump: Meanwhile, market leader Reliance was at the top of the list with a decline of 2.58 per cent. Similarly, SBI, Ultra Tech Cement, NTPC, Sun Pharma, Tata Steel, Dr Reddy’s Lab, ICICI Bank and Bharti Airtel were down 1 to 2.30 per cent. In addition, the HDFC twin companies, Hindustan Unilever and Kotak Bank also fell on the list.
Nifty down 110 points: 819 companies gained on the National Stock Exchange. 1,001 shares declined. The Nifty index, which includes 50-plus stocks, started the morning at 18,127.05 and touched a high of 18,132.65. Then, the Nifty fell to 17,958.80 and finally lost 110.25 points (0.61 per cent) to settle at 17,999.20.
Auto Index Improvement: The Nifty Auto Index was up 2.48 per cent and the ID Index was up 0.49 per cent on the National Stock Exchange. Meanwhile, the PSU Bank Index fell 2.14 percent.
Moreover, the Nifty Pharma, Bank, Private Bank, Oil & Gas indices fell by 1 to 1.40 per cent.
Rupee value 74.37
The rupee had gained 9 paise to 74.37 against the US dollar in early trade on Tuesday. Traders said gains in Asian currencies strengthened the rupee’s appreciation after a video conference between US President Joe Biden and Chinese President Xi Jinping.
Crude oil was at $ 82.62 a barrel
Brent crude rose 0.69 percent to $ 82.62 a barrel in early trade on Tuesday, according to market sources.