mumbai, June 29
Equity benchmark Sensex declined 186 points on Tuesday, tracking losses in ICICI Bank, Kotak Bank and Infosys as investors booked profits at higher levels.The 30-share BSE index ended 185.93 points or 0.35 per cent lower at 52,549.66. Similarly, the broader NSE Nifty tumbled 66.25 points or 0.42 per cent to 15,748.45.Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank.On the other hand, PowerGrid, HUL, NTPC, Dr Reddy’s and Nestle India were among the gainers.According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities extended losses as profit-booking in financials, auto and metals dragged benchmark indices down. Weak cues from global markets also weighed on sentiments, he said.Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with losses.Stock exchanges in Europe were, however, trading with gains in mid-session deals. Meanwhile, international oil benchmark Brent crude was trading 0.27 per cent lower at USD 73.94 per barrel.Equity benchmarks Sensex and Nifty opened on a flat note on Tuesday tracking a mixed trend in global markets and sustained foreign fund outflow.The 30-share BSE index was trading 22.82 points or 0.04 per cent higher at 52,758.41 in initial deals. Similarly, the broader NSE Nifty inched 7.45 points or 0.05 per cent up to 15,822.15. Asian Paints was the top gainer in the Sensex pack, rising over 1 per cent, followed by PowerGrid, L&T, TCS, Reliance Industries, HCL Tech and ITC.On the other hand, ICICI Bank, M&M, HDFC Bank, Kotak Bank and Infosys were among the laggards.In the previous session, the 30-share index Sensex ended 189.45 points or 0.36 per cent lower at 52,735.59, while Nifty settled 45.65 points or 0.29 per cent down at 15,814.70.Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,658.72 crore on Monday, as per provisional exchange data.According to Binod Modi Head-Strategy at Reliance Securities, domestic equities look to be flat as of now. The slew of measures by Finance Minister on Monday to spur economic activities augurs well, he said, adding that the increase in allocation for Emergency Credit Line Guarantee Scheme from Rs 3 trillion to Rs 4.5 trillion is a fantastic move to support the pandemic-hit sectors and ensure liquidity, which also offers comfort to banks.
