The BSE Standard Index-Sensex fell 355 points on Tuesday. The market crashed with losses in HDFC Bank, HDFC, ICICI Bank and Bharti Airtel amid weak global trends. The 30-share BSE Sensex closed 354.89 points or 0.68 percent higher at 52,198.51 points. The Nifty of the National Stock Exchange was also down 15,632.10, diving 120.30 points or 0.76 percent.
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IndusInd Bank suffered the biggest loss as Sensex shares fell more than three per cent. Tata Steel, NTPC, Bharti Airtel, HCL Tech, ICICI Bank, Mahindra & Mahindra and HDFC Bank also suffered significant losses. On the other hand, Asian Paints has gained more than 6 per cent. UltraTech Cement, Bajaj Auto, HUL and Nestle India were the other gainers.
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“Due to the weak global trend, selling pressure on financial stocks has contributed to the downturn in the domestic equity markets,” said Vinod Modi, head of strategy at Reliance Securities. He added that besides the daily consumption commodity companies (FMCG) and IT, most sectoral indices, including finance, metals and realty, declined.
According to Modi, “Asia Paints’ quarterly results triggered a better rally in stocks during the trading period, with mid-and small-cap stocks trading higher.
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