Mumbai: Benchmark indices Sensex and Nifty closed lower on Tuesday after a volatile session, marking the eighth consecutive session of southward movement due to relentless foreign fund outflows and caution ahead of the RBI’s interest rate decision.
Giving up early gains, the 30-share BSE Sensex declined 97.32 points or 0.12 per cent to settle at 80,267.62. In eight trading days, the Sensex has tanked 2,746.34 points or 3.30 per cent.
The 50-share NSE Nifty fell by 23.80 points or 0.10 per cent to 24,611.10.
Trading remained subdued on the monthly expiry day and markets moved in a narrow range. Metal, auto and banking stocks, particularly PSU banks, advanced while realty and consumer durables shares faced selling pressure.
Caution prevailed in the market ahead of the RBI’s interest rate decision on Wednesday, analysts said.
Among Sensex firms, ITC, Bharti Airtel, Trent, Bajaj Finserv, Titan and Reliance Industries were the major laggards.
However, UltraTech Cement, Adani Ports, Tata Motors, Bharat Electronics, Bajaj Finance and Hindustan Unilever were among the major gainers. In Asian markets, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in positive territory, while South Korea’s Kospi and Japan’s Nikkei 225 index ended lower.
In the broader market, shares of Man Industries (India) Ltd tanked 10.6 per cent after Sebi barred the company and its three senior executives from accessing the securities markets.
The BSE midcap gauge ended marginally higher by 0.04 per cent, while smallcap index ended flat, almost unchanged.
Among sectoral indices, telecommunication tanked 0.93 per cent, realty by 0.79 per cent, consumer durables by 0.78 per cent, teck by 0.50 per cent, FMCG by 0.39 per cent and utilities by 0.35 per cent.
Metal jumped 1.11 per cent and commodities climbed 0.65 per cent, while financial services (0.27 per cent), auto (0.30 per cent), and bankex (0.22 per cent) also advanced.
The rupee fell 5 paise to an all-time low of 88.80 against the US dollar on Tuesday, pressured by sustained foreign capital outflows amid global trade uncertainties.
FIIs offloaded equities worth Rs 2,831.59 crore on Monday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 3,845.87 crore, according to exchange data.