Despite seeing a bright spell in positive territory, the Indian stock market declined and ended notably lower on Tuesday, as investors chose to take profits following weakness in most of the markets in Asian and Europe. A lack of triggers from the domestic front too prompted investors to play it safe and cash in on recent gains.
The BSE benchmark Sensex, which declined 20,072.68, ended the day with a loss of 112.37 points or 0.56% at 20,111.61. The Nifty index of the National Stock Exchange closed at 6114.10, off the day's low of 6102.35, recording a loss of 42.80 points or 0.7%.
Shares from interest rate sensitive banking, automobile and realty sectors, which had posted some solid gains last week, were among the prominent losers. The BSE Realty index lost about 2.5%. The Auto index declined 1.75% and the Bankex ended 0.88% down.
Power, PSU, healthcare, oil and metal stocks too mostly ended weak. Capital goods stocks started off well, lost their way subsequently but found some support later on. Consumer durables stocks mostly ended flat, while information technology stocks edged higher. NTPC
, the most prominent loser in the Sensex, shed 4.2%. Tata Motors
lost around 3%. Maruti Suzuki
, State Bank of India
, Tata Steel
, Jindal Steel
& Power, Mahindra & Mahindra
, Sterlite Industries
and Dr Reddy's
Laboratories closed lower by 1.3% - 2.5%. Bharti Airtel
, Hero Motocorp, ITC
, HDFC Bank
, Tata Power
, Larsen & Toubro
and Bajaj Auto
also closed weak. Coal India
moved up by 2.4% on strong results. BHEL
, Tata Consultancy Services
, HCL Technologies
gained 1% - 1.6%. Sun Pharmaceutical
, GAIL India
and Asian Paints
closed with modest gains. Voltas
, Hotel Leelaventure
and Divi's Laboratories
declined sharply on weak quarterly results. Shriram City Union Finance
rallied on strong results.
The market breadth was weak. Out of 2512 stocks traded on BSE, 1429 stocks declined. 940 stocks moved up and 143 stocks ended flat.