Sensex snaps 3-day winning run; IT, pharma stocks weigh

Mumbai: The BSE Sensex surged to yet another all-time high but closed modestly lower on Tuesday as investors offloaded IT, pharma and banking stocks at higher levels.

A sharp drop in the rupee, which lost 32 paise against the US dollar, further weighed on market mood, traders said.

Snapping its three-day rising streak, the 30-share BSE benchmark settled 17.43 points or 0.03 per cent lower at 58,279.48. Intra-day, it touched a fresh lifetime high of 58,553.07.

On similar lines, the broader NSE Nifty fell 15.70 points or 0.09 per cent to 17,362.10. It scaled an all-time peak of 17,436.50 during the session.

Sun Pharma was the top laggard in the Sensex pack, sliding 1.81 per cent, followed by Tech Mahindra, Axis Bank, HCL Tech, Infosys, TCS and L&T.

In contrast, HDFC led the gainers' list with a jump of 2.56 per cent. Bharti Airtel, IndusInd Bank, ITC, UltraTech Cement, Nestle India, Reliance Industries and Asian Paints were among the other winners. Sector-wise, BSE realty, IT, utilities, oil and gas and power indices tumbled up to 2.24 per cent, while telecom, consumer durables, FMCG and energy finished in the green. In the broader markets, the BSE midcap and smallcap indices fell as much as 0.73 per cent.

On the global markets front, Asian equities rallied after China posted robust exports data for August.

Bourses in Shanghai, Tokyo and Hong Kong ended with gains, while Seoul settled in the red. Equities in Europe were trading on a negative note in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 0.54 per cent to $72.61 per barrel. The rupee plunged by 32 paise to close at 73.42 against the US dollar on Tuesday, tracking a strong American currency in the overseas market.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 589.36 crore on Monday, as per provisional exchange data.