Sensex Drops 186 Points, Nifty Ends Below 15,800

Profit-booking in financials, auto and metals, and weak global cues, drags market down
Sensex Drops 186 Points, Nifty Ends Below 15,800
Sensex Drops 186 Points, Nifty Ends Below 15,800

Sensex fell 186 points and Nifty 66 points on Tuesday, tracking losses in ICICI Bank, Kotak Bank and Infosys, as investors booked profits at higher levels.

Rupee fell 4 paise to close at 74.23 against the dollar, as the single-day rise in fresh Covid-19 cases fell below 40,000 for the first time in 102 days, bringing India’s infection tally to 3,03,16,897 on Tuesday.

The 30-share BSE index ended 185.93 points or 0.35 per cent lower at 52,549.66, while Nifty tumbled 66.25 points or 0.42 per cent to 15,748.45.

Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank, while PowerGrid, HUL, NTPC, Dr Reddy’s and Nestle India were among gainers.

According to Binod Modi, head of strategy at Reliance Securities, domestic equities extended losses as profit-booking in financials, auto and metals dragged benchmark indices down. Weak cues from global markets also weighed on sentiments, he said.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with losses. Stock exchanges in Europe were, however, trading with gains in mid-session deals.

Brent crude was trading 0.27 per cent lower at $73.94 per barrel.

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