You are here: Home » Markets » News

Sensex drops 483 pts as yields hit 3-yr high; IT stks drag, Paytm leaps 12%

CLOSING BELL: More than 20 of the 30 Sensex stocks and 30 of the 50 Nifty counters ended in the negative zone. These included HCL Tech, Infosys, L&T, Wipro, Asian Paints, HDFC, and HDFC Bank

Topics
MARKET LIVE | MARKET WRAP | Markets

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

MARKET LIVE: Sensex down 450 pts, Nifty tests 17650; Infy, HCL Tech slip 2%
CLOSING BELL
Benchmark indices were back in the red after a one-day hiatus on Monday as tepid global sentiment and rising bond yields dented the rally in equities. European and Asian traded lower today, marking the beginning of a week with key central bank meetings and US inflation prints.

Meanwhile, yields on 10-year government securities hit their 3-year high of 7.192 per cent in the money market, reflecting inflationary concerns and expectations of faster rate hikes by the RBI in months ahead.

Against this backdrop, the index fell 483 points, or 0.8 per cent, to end the day at 58,965. On the NSE, the Nifty50 index closed at 17,683, down 101 points or 0.6 per cent. Both the indices had hit a low of 59,356 and 17,651, respectively.

More than 20 of the 30 stocks and 30 of the 50 counters ended in the negative zone. These included HCL Tech, Infosys, L&T, Wipro, SBI Life, Asian Paints, HDFC, HDFC Bank, and Axis Bank, falling up to 2.7 per cent.

On the upside, Grasim, Adani Ports, JSW Steel, UPL, Cipla, Apollo Hospitals, and BPCL were the top large-cap gainers, adding between 1 and 3 per cent. 

In the broader markets, though, the Midcap and SmallCap indices advanced 0.4 per cent each. Among sectors, the IT and Financial Services indices were the worst hit, falling 1.4 per cent and 0.5 per cent, respectively. On the flipside, the Oil and Gas, and Realty indices gained the most in a weak market, rising up to 1.8 per cent.

Overall, more than 2,000 stocks ended in the positive zone on the BSE, while around 1,500 stocks ended in the red. BSE's total market-cap reached Rs 275.37 trillion.

Buzzing stocks
Shares of Veranda Learning Solutions opened 15 per cent higher at Rs 157 against its issue price of Rs 137 per share on the on Monday. They ended at the day's high level of Rs 165. READ MORE

Hindustan Aeronautics hit a fresh all-time high following reports that the company emerged as the lowest bidder to make five Polar Space Launch Vehicles (PSLVs) for ISRO. The stock rallied to almost 4.50 per cent to hit a high of Rs 1,693 in intra-day trade. READ MORE

Shares of ITC hit an over two-year high of Rs 273.10, up nearly 2 per cent on the BSE on Monday in an otherwise weak market. The stock has rallied 6 per cent in the past two sessions on expectation of strong earnings due to improved cigarette volumes. READ MORE


CATCH ALL THE LIVE UPDATES

Auto Refresh