Key Points
- Sensex and Nifty fell over 1% on Tuesday amid weak global cues and foreign fund outflows.
- Sensex dropped by 821 points to close at 78,675; Nifty lost 258 points to settle at 23,883.
- Auto and banking stocks led the decline, while Sun Pharma, ICICI Bank, Infosys, and TCS were gainers.
- Most global markets ended lower, including Japan’s Nikkei and China’s Shanghai Composite.
- Foreign institutional investors sold equities worth over 2,306 crore rupees on Monday.
Looma News
The stock market took a hit on Tuesday, with both Sensex and Nifty dropping more than 1%. The 30-share BSE Sensex fell 821 points to close at 78,675, and the Nifty lost 258 points, ending at 23,883. This decline was driven by weak global signals and continued foreign fund outflows, which dampened market mood. Auto and banking stocks were the biggest losers, leading the fall in key sectors.
On the Sensex, NTPC, Asian Paints, HDFC Bank, State Bank of India, and Tata Motors were among the biggest losers. On the other hand, Sun Pharma, ICICI Bank, Infosys, and TCS managed to show gains. Nearly all sector indices closed lower, with the largest drops seen in Auto, Capital Goods, Metals, Power, Banks, and FMCG.
Global markets also showed a negative trend. Most Asian markets, including Japan’s Nikkei, China’s Shanghai Composite, Hong Kong’s Hang Seng, and Seoul’s Kospi, ended lower. European markets were also down when the Indian market closed. However, US markets had closed higher on Monday, offering a bit of positive global sentiment.
Foreign Institutional Investors (FIIs) continued to sell, offloading equities worth more than 2,306 crore rupees on Monday. This ongoing outflow of foreign capital has been a significant factor weighing on Indian markets in recent sessions.
