Begin typing your search...

Sensex, Nifty edge down amid weak Asian cues

BSE index slips 53 pts, NSE Nifty declines 12 pts; HDFC twins, RIL weigh

Positive data, hopes of healthy Q3 results lift markets

Positive data, hopes of healthy Q3 results lift markets 

Mumbai: Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday following losses in index majors HDFC twins, Reliance Industries and ICICI Bank amid a weak trend in Asian markets. The 30-share BSE Sensex slipped 52.94 points or 0.10 per cent to 52,275.57. Similarly, the broader NSE Nifty declined 11.55 points or 0.07 per cent to 15,740.10. Banking, finance and energy stocks succumbed to profit-booking, while robust buying in IT counters capped the downside for the bourses.

SBI was the top loser in the Sensex pack, slipping 1.21 per cent, followed by HDFC, Kotak Bank, HDFC Bank, PowerGrid, ICICI Bank and UltraTech Cement. On the other hand, Tech Mahindra, Bharti Airtel, HCL Tech, Infosys, Titan, Dr Reddy's and ITC were among the gainers, climbing up to 2.53 per cent. "Traders are uneasy about high valuations and rising global inflation ahead of central bank meetings. Investors await key US inflation data due on Thursday for more indications about the Fed's policy outlook and cues about the global economic recovery," said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.

Midcap and smallcap indices continued to outperform the benchmarks as improved prospects of earnings recovery continues to attract investors towards this space, said Binod Modi, Head - Strategy at Reliance Securities. "Notably, daily caseload falling below one lakh first time after two months and government assuring state governments to supply jabs at own cost for all offer additional comfort," he added. Sector-wise, BSE metal, bankex, finance, energy and capital goods indices lost up to 1.38 per cent, while telecom, IT, teck and healthcare closed in the green. Broader BSE midcap and smallcap indices rose up to 0.93 per cent. Global equities were mixed ahead of crucial US inflation data and the policy meeting of the European Central Bank (ECB). In Asia, bourses in Shanghai, Hong Kong, Tokyo and Hong Kong ended in the red. Stocks exchanges in Europe were trading with gains in mid-session deals. International oil benchmark Brent crude was trading 0.53 per cent lower at $71.11 per barrel.

Bizz Buzz
Next Story
Share it