Closing Bells: Indian Benchmark Indices Closed Tuesday Nearly 1% Lower

The Indian benchmark indices had a disappointing outing on Tuesday as both BSE Sensex, and NSE Nifty closed the day nearly 1% lower. On the National Stock Exchange (NSE), all sectoral indices barring the NSE Nifty PSU Bank closed in the red. The investor sentiment is down due to the recent lockdown restrictions imposed by various state governments across the country, hindering the growth of businesses. 

The S&P BSE Sensex closed the day 0.95% or 465.01 points lower. It closed at 48,253.51 points. The market trend was such that only nine of the thirty stocks that form the Sensex index closed in the green, while the remaining twenty-one ended the day in the negative terrain. 

ONGC emerged as the top gainer in the index. Its share price advanced by 1.86%. Bajaj Finance and TCS followed it as their share price surged by 1.12% and 0.39%, respectively. SBI and Kotak Bank were the only banking stocks to close higher; their share price moved ahead by 0.33% each. Nestle India, Tech Mahindra, Asian Paints and Hindustan Unilever were the other stocks to close higher. 

Dr Reddy and Reliance led the losses in the index. Their share price tanked by 2.26% and 2.12%, respectively. Sun Pharma, HDFC Bank, HDFC and Infosys, and Mahindra & Mahindra witnessed their share price fall by 1.99%, 1.74%, 1.73%, 1.65%, and 1.61%. The share price of Titan, Maruti, and PowerGrid dropped by over 1%.

The other stocks to close the day in the adverse terrain were; ICICI Bank, UltraTech Cement, ITC, HCL Tech, Baja Auto, Bajaj Finserv, NTPC, IndusInd Bank, Axis Bank, and L&T. 

The NSE Nifty closed the day at the 14,496.50 levels. It gave up 137.65 points or 0.94% over the day. Among the fifty stocks that constitute the index, only sixteen advanced while the remaining thirty-four closed the day lower. SBI was the most significant gainer while Tata Consumer lost the most. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in