You are here: Home » Markets » News
Business Standard

Sensex falls 109 points on profit booking; Tata Steel down 3%

Benchmark BSE Sensex declined by 109 points on Tuesday due to losses in index major Reliance Industries, Tata Steel and ICICI Bank amid a muted trend in global markets.

Sensex | Stock Market | IT stocks

Press Trust of India  |  Mumbai 

On a month-to-date (MTD) basis, the BSE MidCap index fell 1.8 per cent and the SmallCap index declined 3.8 per cent, while the Sensex rose 5.2 per cent.
Broader midcap and smallcap indices rose up to 1.11 per cent

Benchmark BSE declined by 109 points on Tuesday due to losses in index major Reliance Industries, Tata Steel and ICICI Bank amid a muted trend in global

The 30-share index ended 109.40 points or 0.18 per cent lower at 60,029.06 with 16 of its constituents closing in red.

The broader NSE Nifty fell by 40.70 points or 0.23 per cent to 17,888.95 as metal, IT and energy stocks declined.

Tata Steel was the top loser in the pack, shedding around 3 per cent, followed by Tech Mahindra, HCL Tech, IndusInd Bank and Reliance Industries.

On the other hand, Maruti, NTPC, Titan, SBI and L&T were among the gainers.

Sectorally, BSE metal, energy, basic materials, oil and gas and healthcare indices fell up to 1.93 per cent, while realty, consumer durables and auto index ended with gains.

Metal, oil and commodity stocks dragged, fuelled by profit booking while realty, PSU bank and consumer durables made frail attempts at lifting the indices, analysts said.

Broader midcap and smallcap indices rose up to 1.11 per cent.

Vinod Nair, Head of Research at Geojit Financial Services said, "Succumbing to lacklustre global sentiments, domestic indices failed to gain ground oscillating between gains and losses in today's rough session."

Global remain jittery ahead of the upcoming Bank of England and Fed meetings where the central banks could cease the pandemic-era stimulus.

Auto sector managed to remain buoyant despite weak auto sales numbers reported by sectoral majors due to supply chain disruptions, fuel price hikes and rise in input costs.

Maruti was the top gainer among stocks, rising by 2.36 per cent. Bajaj Auto advanced 0.51 per cent while Mahindra & Mahindra dropped 0.87 per cent.

traded lackluster in a narrow range and ended marginally lower in absence of any major trigger, Ajit Mishra, VP - Research, Religare Broking said.

"Participants are maintaining a cautious stance ahead of the US Fed meet and we may see a similar trend on Wednesday as well. However, the scheduled weekly expiry may trigger volatile swings in the index."

Deepak Jasani, Head of Retail Research, HDFC Securities said: "Nifty ended lower reversing part of the gains made on the previous day. Nifty opened higher and fell till about 1040 Hrs. It later went sideways till the end of the session.

"On a day when the volumes on the NSE were below recent averages, realty and auto indices gained the most, while metals index fell the most."

Asian stocks ended broadly lower on Tuesday eroding from opening levels as traders digested the latest coronavirus curbs in China and awaited key central bank decisions for clues on whether they could consider tightening monetary policy earlier than thought.

Stock exchanges in Europe were largely trading with gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 0.02 per cent to USD 84.73 per barrel.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 03 2021. 01:17 IST