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MARKET: Sensex erases day's gains, ends 52 pts lower; Bharti Airtel dips 3%

All that happened in the markets today

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Markets | Vodafone Idea | Future Enterprises

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

markets
NSE's Nifty50 index ended at 11,317, down 38 points, or 0.33 per cent.
Erasing their intra-day gains, the benchmark indices settled flat with a negative bias on Tuesday amid selling in blue-chip counters such as Bharti Airtel, Axis Bank, HDFC, and Hindustan Unilever (HUL).

The S&P BSE Sensex today slipped 52 points, or 0.14 per cent to settle at 38,365. HCL Tech (up over 2 per cent) ended as the top gainer on the index while Tata Steel (down over 4 per cent) was the biggest loser. Of 30 constituents, 21 declined and the rest 9 advanced. 

NSE's Nifty50 index ended at 11,317, down 38 points, or 0.33 per cent. India VIX gained over 3 per cent to 22.72 levels. 

Among individual stocks, Bharti Airtel traded lower for the fourth straight day on Tuesday. The stock hit a four-month low during the trade. It settled at Rs 497.90, down over 3 per cent. READ MORE

Shares of slipped 14 per cent to Rs 333 in the intra-day trade as the government's 15 per cent stake sale in the company via offer for sale (OFS) route opened for non-retail investors today. The floor price for the OFS has been fixed at Rs 330 per share, a 14 per cent discount to Monday’s closing price of Rs 385. The stock ended at Rs 331.15, down 13.8 per cent. 

The sectoral trend on the NSE was negative. Barring Nifty IT, all the other indices ended in the red. Nifty IT gained over 1 per cent to 18,396 levels. On the other hand, Nifty Media slipped the most - down 3 per cent to 1,604 while Nifty Metal cracked 2.99 per cent to 2,377. 

In the broader market, the S&P BSE MidCap index slipped 1.5 per cent to 14,483 while the S&P BSE SmallCap index ended 0.93 per cent lower at 14,437.53 levels.

Global markets 

Asian shares gained on Tuesday following a small bounce in European and shrugging off concerns over the latest US-China tensions, as investors looked to whether high-flying US tech shares could recover from their recent rout.

China's blue-chip index and Hong Kong's Hang Seng gained 0.7 per cent and 0.5 per cent, respectively. The newly launched Hang Seng tech index fell 1.1 per cent.

In commodities, oil fell below $42 a barrel, its 5th session of decline, pressured by concerns that a recovery in demand could weaken as coronavirus infections flare up around the world.

(With inputs from Reuters)

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