In line with Asian peers, the domestic equities ended in the negative territory on Tuesday as global economic slowdown worries weighed on investor sentiment. This apart, selling in counters such as metals, financials and auto also dragged the market lower.
The S&P BSE Sensex lost 134 points or 0.37 per cent to settle at 36,445, with Sun Pharma (up 4.54 per cent) being the top gainer and Vedanta (down nearly 4 per cent) the worst laggard. On NSE, the benchmark Nifty50 index dropped 39 points or 0.36 per cent to close the session at 10,923.
In the broader market, the S&P BSE MidCap index ended 14 points down at 14,925.27, while the S&P BSE SmallCap indexnlost 71 points to settle at 14,332.
Sun Pharma shares rallied as much as 6.12 per cent in the intra-day trade after the company made a series of clarifications and changes in its filing to the bourses. The stock, eventualy, ended at Rs 418.05 apiece on BSE, up 4.95 per cent.
The drug major said that its domestic formulations distribution shall be transitioned from Aditya Medisales, the current distributor, to a wholly-owned subsidiary of Sun Pharma and the change will be made effective by Q1FY20, post receipt of all requisite regulatory approvals.
This apart, the firm also announced unwinding of a transaction with Atlas Global Trading (Atlas).
Shares of Ashok Leyland continued under pressure, hitting a 20-month low of Rs 86.55 apiece, down 4.5 per cent on the BSE, on concerns of a slowdown in vehicle sales. The stock ended the day at Rs 88 apiece, down nearly 3 per cent
The market price of the country's second largest commercial vehicle (CV) manufacturer was trading at its lowest level since May 25, 2017.
Thus far in the month of January 2019, Ashok Leyland, the flagship firm of Hinduja group, has fallen 16 per cent after recording weak December sales numbers. In comparison, the S&P BSE Sensex was up 1 per cent during the same period.