Markets log losses on weak investor sentiment

Mumbai: Benchmark indices Sensex and Nifty clocked losses after three sessions of gains on Tuesday, with sell-offs in banking counters offsetting rise in auto and IT stocks amid investors awaiting stimulus measures to arrest economic slowdown.

Among the Sensex constituents, Yes Bank plummeted 7.11 per cent on concerns over its exposure to CG Power, which has been hit by financial irregularities. After opening on a positive note, the 30-share Sensex swung 292 points and finally settled 74.48 points, or 0.20 per cent, lower at 37,328.01.

The broader NSE Nifty too ended 36.90 points, or 0.33 per cent, down at 11,017. During the day, it oscillated between a high of 11,076.30 and low of 10,985.30.

In the previous three sessions, the Sensex gained 444.33 points, or 1.20 per cent, while the Nifty advanced 128.05 points, or 1.17 per cent.

Domestic markets continue to reel under pressure of slowing growth and the street consensus is that the government may come up with a special package to boost the economy. Q1FY20 earnings too have been lack luster so far, market analysts said.

Sectorally, BSE metal, basic materials, energy, realty, power, oil and gas, finance, FMCG, bankex and telecom indices fell up to 1.71 per cent.