Indian stock market gave up Monday gains on Tuesday to close in red amid high selling pressure and mixed global cues. NSE Nifty 50 closed at 17,914 by shedding 187 points or 1.03% while BSE Sensex dropped by 631 points to close at 60,115.
Heavyweights such as TCS — which reported its quarterly results the previous day, HDFC Bank, Infosys and Reliance were the top drags on headline indices.TCS shares were down by 1%.
Domestic markets were negatively impacted by it stocks on Tuesday as trading resumed amid conflicting global indications.
Indian leading indices started the day in the green but quickly surrendered its gains. The broad market Nifty50 was trading at 18,053.20, down 48 points or 0.27 percent, while the S&P BSE Sensex was trading at 60,548.24, down 200 points or 0.33 percent in early trade. Banking index Nifty Bank was trading at 42,420.55 after falling 160 points, or 0.38 percent.
After three days of a losing streak, Nifty on Monday turned positive on global cues, said a senior official of HDFC Securities. The information technology (IT) stocks did well following overnight gains on the Nasdaq and ahead of TCS quarterly numbers in the evening, he said.
On the other hand, the BSE Sensex gained 1.41 percent and closed at 60,747.31. Except for Nifty Consumer Durables, all of Nifty`s sectors ended in green. Nifty IT, Nifty AUTO and Nifty METAL were the leading sectors with 2.71 per cent, 1.19 per cent and 1.33 per cent, respectively, said Choice Broking.
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