Indian bourses close in red amid uncertainty in West Asia; Sensex tanks 450pts, Nifty at 21,995
Mumbai: Indian key stock market indicators concluded the fourth consecutive session in the red under the ongoing uncertainties in West Asia and diminishing expectations of an imminent interest rate reduction by the US Federal Reserve, which dampened investor confidence in India.
The Sensex, initially showing promise by opening higher at 73,183.10, reached an intraday peak of 73,473.05.
However, it couldn't sustain this momentum and retreated to a low of 72,365.67 later in the trading session.
Ultimately, the BSE Sensex closed at 72,488.99, marking a decline of 454.25 points or 0.62%.
Similarly, the Nifty 50 began positively at 22,212.35 and rose to an intraday high of 22,326.50. Nevertheless, influenced by risk aversion, it descended to a low of 21,981.90.
Eventually, the Nifty 50 concluded at 21,995.85, down by 152.05 points or 0.69%.
Out of the 30 stocks on the Sensex, only seven ended in positive territory, driven by gains in Bharti Airtel, Power Grid Corp., Infosys, Tata Steel, and Larsen & Toubro. Conversely, Nestle India, Titan, Axis Bank, NTPC, and Tata Motors were the primary detractors.
Similarly, among the 50 stocks on the Nifty 50, only fourteen closed with gains, led by Bharti Airtel, Power Grid Corp., Bajaj Auto, Hindalco, and Infosys. On the other hand, Apollo Hospital Enterprise, Nestle India, Titan, ONGC, and Axis Bank faced notable losses.
The broader market displayed a mixed performance, with the BSE MidCap index declining by 0.39%, while the BSE SmallCap index edged up by 0.06%.
Across sectors, except for media, all others ended in negative territory. Major sectors like Healthcare (down 1.75%), Oil & Gas (down 1.10%), and FMCG (down 1.08%) witnessed significant declines.
Financial Services, Pharma, Bank, Auto, IT, Metal, Realty, and Consumer Durables sectors also closed in the red.
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