Markets extend losses for 2nd day in row on selling in heavyweights RIL & HDFC Bank

Mumbai: Equity benchmark indices Sensex and Nifty declined for the second consecutive day on Tuesday, tracking intense selling pressure in market heavyweights Reliance Industries Ltd (RIL) and HDFC Bank amid geopolitical tensions and renewed concerns about potential US tariff hikes.

The 30-share BSE Sensex dropped 376.28 points, or 0.44 per cent, to settle at 85,063.34.

The 50-share NSE Nifty declined 71.60 points, or 0.27 per cent, to end at 26,178.70.

From the 30-Sensex firms, Trent tumbled 8.62 per cent after the Tata group’s retail firm’s revenue growth in the December quarter failed to cheer investors.

Reliance Industries, ITC, Kotak Mahindra Bank, InterGlobe Aviation, and HDFC Bank were also among the laggards.

On the other hand, ICICI Bank, Sun Pharma, Hindustan Unilever, and State Bank of India were among the gainers.

The BSE smallcap gauge declined 0.39 per cent, and midcap dipped 0.24 per cent.

Among sectoral indices, energy tanked 1.71 per cent, oil & gas (1.22 per cent), services (1.07 per cent), capital goods (0.63 per cent), realty (0.28 per cent) and power (0.23 per cent). BSE Healthcare jumped 1.38 per cent, BSE PSU bank (0.52 per cent), consumer durables (0.43 per cent), IT (0.37 per cent) and BSE Focused IT (0.35 per cent).

FIIs offloaded equities worth Rs 36.25 crore on Monday after a day’s breather, according to exchange data. Domestic institutional investors (DIIs), however, bought stocks worth Rs 1,764.07 crore.

Brent crude, the global oil benchmark, climbed 0.28 per cent to $61.93 per barrel.

On Monday, the Sensex dropped 322.39 points, or 0.38 per cent, to settle at 85,439.62. After hitting a record intra-day high of 26,373.20, the Nifty failed to carry forward the momentum and declined 78.25 points or 0.30 per cent to end at 26,250.30.