Sensex slips for 3rd day, declines 106 points in choppy trade

Benchmark indices ended on a lower note on Tuesday, marking their third straight session of decline, with the Sensex falling 106 points in highly volatile trade. The 30-share BSE benchmark settled 105.82 points or 0.19 per cent lower at 54,364.85. During the day, it hit a high of 54,857.02 and a low of 54,226.33.

The NSE Nifty declined 61.80 points or 0.38 per cent to end at 16,240.05. Among the Sensex firms, Tata Steel, Sun Pharma, NTPC, Titan, Bajaj Finance, Reliance Industries, Tech Mahindra and ITC were among the major laggards. In contrast, Hindustan Unilever Limited, Asian Paints, IndusInd Bank, UltraTech Cement, Maruti, Kotak Mahindra Bank, HDFC Bank and HDFC were among the gainers.

Elsewhere in Asia, markets in Tokyo, Hong Kong and Seoul ended lower, while Shanghai settled higher. Equity markets in Europe were quoting higher in the afternoon session. Stock exchanges in the US had fallen sharply on Monday.

Meanwhile, international oil benchmark Brent crude dipped 1.82 per cent to USD 104 per barrel. Foreign institutional investors remained in selling mode, offloading shares worth a net Rs 3,361.80 crore on Monday, according to stock exchange data. “Wall Street plunged to its lowest level in more than a year on Monday, as markets were already hit by rising interest rates. Following the decline in global stocks, Indian equity indexes may face some pressure.

“Asian markets are trading down on expectations of an economic downturn as a result of growing inflation, higher interest rates and harsh COVID-19 lockdown restrictions in Shanghai,” said Mohit Nigam, Head – PMS, Hem Securities.

ALSO READ | LIC IPO closes: Allotment on May 12, check grey market premium

Latest Business News