Indian equity benchmark indices extended losses for the fourth consecutive session on Tuesday, with the Sensex and Nifty plunging nearly 2 per cent amid rising crude oil prices, continued foreign fund outflows, and growing uncertainty over the escalating West Asia conflict.
Market Performance
The BSE Sensex tumbled 1,456.04 points, or 1.92 per cent, to close at 74,559.24, while the NSE Nifty declined 436.30 points, or 1.83 per cent, to settle at 23,379.55. In the past four trading sessions, the Sensex has shed over 3,399 points and the Nifty has dropped nearly 951 points.
Key Factors Behind the Decline
Investor sentiment remained fragile as Brent crude prices climbed above USD 107 per barrel and the rupee weakened 35 paise to hit a record low of 95.63 against the US dollar. Market participants also remained wary of sustained foreign institutional investor (FII) selling. FIIs offloaded equities worth Rs 8,437.56 crore on Monday, according to exchange data.
Broad-Based Selloff
The selloff was broad-based, with IT, realty, and consumer durable stocks witnessing sharp declines. Tech Mahindra, HCL Tech, Tata Consultancy Services, and Adani Ports were among the biggest laggards on the Sensex, while State Bank of India emerged as the lone gainer.
Nifty50 Top Gainers
- ONGC: Rs 294.20 (+4.70 per cent)
- Hindalco: Rs 1,042.50 (+1.86 per cent)
- SBI: Rs 976.10 (+0.26 per cent)
- Bharti Airtel: Rs 1,762.80 (+0.17 per cent)
Sensex Top Gainers
There was only one gainer on the Sensex index for Tuesday. It was State Bank of India (SBIN) that closed at Rs 974.70, marking a change of 0.12 per cent.
Nifty50 Top Losers
These were the top 10 losers on the NSE Nifty50 index:
- Adani Ports: Rs 1,691.00 (-4.32 per cent)
- Shriram Finance: Rs 933.90 (-4.31 per cent)
- Tech Mahindra: Rs 1,396.00 (-4.21 per cent)
- HCLTech: Rs 1,147.00 (-4.01 per cent)
- Jio Financial: Rs 230.75 (-3.99 per cent)
- Adani Enterprises: Rs 2,401.10 (-3.96 per cent)
- TCS: Rs 2,303.50 (-3.74 per cent)
- Titan: Rs 4,058.40 (-3.50 per cent)
- Wipro: Rs 190.30 (-3.24 per cent)
- Trent: Rs 4,048.50 (-3.17 per cent)
Sensex Top Losers
These were the top 10 losers on the BSE Sensex index:
- Tech Mahindra: Rs 1,392.35 (-4.44 per cent)
- Adani Ports: Rs 1,689.00 (-4.39 per cent)
- HCLTech: Rs 1,145.80 (-4.11 per cent)
- TCS: Rs 2,300.65 (-3.84 per cent)
- Titan: Rs 4,054.05 (-3.60 per cent)
- BEL: Rs 416.60 (-3.51 per cent)
- Bajaj Finance: Rs 904.00 (-3.43 per cent)
- Infosys: Rs 1,140.45 (-3.09 per cent)
- Trent: Rs 4,051.95 (-3.08 per cent)
- Bajaj Finserv: Rs 1,744.80 (-3.02 per cent)
