Stock market update: Sensex falls by 195 points, Nifty down by 49 points.
BSE Sensex fell 195.16 points to close at 73,677.13. With this, Nifty closed at 22,356.30 points with a loss of 49.30 points.
Sensex fell 195 points on Tuesday due to fall in shares of IT and FMCG companies amid weak global trend and withdrawal of foreign funds, while Nifty fell below 22,400 points. After the record-breaking surge, the 30-share BSE Sensex fell 195.16 points or 0.26 per cent to close at 73,677.13. During trading, the Sensex slipped 460.04 points or 0.62 percent to 73,412.25.
National Stock Exchange’s Nifty also closed at 22,356.30, down 49.30 points or 0.22 percent. Sensex and Nifty closed at lifetime highs on Monday after a four-day winning streak that saw the indices rise by nearly 2 per cent. Domestic markets traded in a range on Tuesday after hitting new record highs the previous day, buoyed by a cautious trend from global peers ahead of the Fed Chair’s testimony to Congress and key US jobs data.
Tata Motors announced the merger of its passenger and commercial vehicles business into two listed units and its share climbed 3.52 per cent to a 52-week high in trading. BSE smallcap stocks fell by 0.63 per cent and midcap stocks fell by 0.17 per cent.
Sectoral indices included IT (1.61 per cent), FMCG (1.02 per cent), Tech (0.89 per cent), Capital Goods (0.37 per cent) and Consumer Durables (0.36 per cent). Shares of FMCG, energy, telecom, utilities and auto sectors were seen trading with gains.
The market showed volatility amid mixed signals and closed with a slight loss. In Asian markets, Seoul, Tokyo and Hong Kong closed with losses while Shanghai closed in the green. European markets were seen trading with a decline. US markets closed in negative territory on Monday.
Global oil benchmark Brent crude fell 0.21 percent to $82.63 a barrel. According to provisional stock market data, foreign institutional investors (FIIs) sold shares worth Rs 564.06 crore on Monday.
