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Markets end in red for 2nd day in row
Stock markets continued negative streak for the second consecutive day on Tuesday, driven mixed global cues and offloading by investors ahead of expiry of futures & options (F&O) contracts for November series.
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They will remain closed today due to Guru Nanak Jayanthi
Mumbai: Stock markets continued negative streak for the second consecutive day on Tuesday, driven mixed global cues and offloading by investors ahead of expiry of futures & options (F&O) contracts for November series.
The benchmark BSE Sensex shed 43.60 points, or 0.17 per cent, to close at 25,775.74. The primary index tanked 92.75 points in two straight sessions. Meanwhile, the 50-share NSE Nifty was down by 17.65 points, or 0.22 per cent, to end the day at 7,831.60. Intraday, it oscillated between 7,812.65 and 7,870.35.
Caution exercised by investors before the close of November series contracts in the derivatives segment on Thursday, mixed trend in Asian markets and lower openings in European markets have broadly impacted the sentiments. Stock exchanges will remain closed on Wednesday on account of Guru Nanak Jayanthi.
After opening in red zone, the 30-share BSE Sensex recovered briefly owing to buying in realty, oil and gas, and PSU stocks. Maruti Suzuki which was down by 2.05 per cent and L&T (down 1.94 per cent) were among the prominent losers. Bajaj Auto, Sun Pharma, NTPC and Wipro also recorded losses. Out of the 30-Sensex constituents, 22 ended lower. Hindustan Unilever, HDFC Ltd, RIL, Lupin and Bharti Airtel ended higher by up to 2.42 per cent and averted any major slide in the key indices.
Shares of Reliance Communication soared 9.29 per cent to Rs 71.15 on speculation of positive corporate reports. Sector-wise, the BSE capital goods index suffered the most by falling 1.20 per cent, followed by auto, IT, healthcare and consumer durables. The broader markets, however, showed a better trend as the BSE small-cap index ended 0.33 per higher and the mid-cap gained 0.08 per cent.
Brokers said the rolled-overs to the next month expiry would come in below recent month’s expiries. Sustained foreign fund outflows too made the mood gloomy, they said. Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 35.37 crore on Monday, provisional data from stock exchanges showed.
