Domestic equity benchmarks closed lower on Tuesday, with the Sensex falling 492.70 points, or 0.63 percent, to 77,235.46 and the Nifty 50 declining 132.75 points, or 0.55 percent, to 24,154.90. Selling in IT stocks added to the pressure on the market, with Infosys, HCL Technologies and TCS among the major stocks registering declines.
The weakness persisted through the second trading session of the week, with both benchmark indices remaining in negative territory. The market also opened lower, with the Sensex declining by around 250 points and the Nifty falling by nearly 70 points in early trade.
Of the 50 Nifty 50 constituents, 40 stocks closed lower on Tuesday, while 10 gained. Among the 30 Sensex constituents, eight stocks ended higher and 22 declined.
Asian Paints recorded the steepest decline among the major Sensex constituents, falling 2.40 percent. Infosys declined 2.02 percent, HCL Technologies fell 1.93 percent, TCS declined 1.47 percent and Tech Mahindra dropped 0.83 percent.
The source content states that continued selling in IT stocks may be influenced by global technology sector signals, valuations and changes in investors' risk-taking capacity.
Axis Bank was among the best Sensex stocks, gaining 0.89 percent. Power Grid rose 0.66 percent, Mahindra & Mahindra gained 0.47 percent, Bajaj Finance increased 0.27 percent, L&T rose 0.15 percent, Reliance Industries gained 0.08 percent, Bajaj Finserv advanced 0.05 percent and NTPC rose 0.03 percent.
Bharti Airtel fell 1.75 percent, Hindustan Unilever declined 1.41 percent, UltraTech Cement dropped 1.28 percent and IndiGo fell 1.23 percent. ITC declined 1.15 percent, Kotak Mahindra Bank fell 1.11 percent, SBI declined 0.97 percent and HDFC Bank fell 0.93 percent. Adani Ports declined 0.80 percent.
Eternal fell 0.58 percent, Maruti Suzuki declined 0.58 percent, ICICI Bank fell 0.48 percent, Tata Steel declined 0.48 percent, Titan fell 0.39 percent, Sun Pharma declined 0.32 percent, Trent fell 0.24 percent and BEL declined 0.12 percent.
