Stock Market
Market mood turns sour! Sensex slides 250 points as defence stocks bleed, Zomato parent Eternal soars
Mumbai/IBNS: The Indian stock market ended lower on Tuesday after the benchmark indices had surged in the previous session, media reports said.
The BSE Sensex opened on a positive note but soon erased early gains and slipped into negative territory.
Despite a late recovery attempt, the Sensex closed 250.48 points lower at 83,627.69.
The NSE Nifty 50 also ended in the red, settling 57.95 points down at 25,732.30.
Defence stocks were among the biggest losers, with Solar Industries, Zen Technologies and DCX Systems witnessing sharp declines.
Sectorally, Nifty Bank bucked the weak trend, gaining 128 points to close at 59,579, while the Nifty Midcap index fell 119 points to 59,598.
Meanwhile, shares of Eternal Ltd., the parent company of Zomato and Blinkit, surged 3 percent on Tuesday after the company released its latest shareholding pattern on Monday evening.
The rally marked the fifth consecutive session of gains for the stock.
According to a CNBC-TV18 report, the updated shareholding data shows an increase in foreign headroom, which has now crossed the 25 per cent threshold, making Eternal eligible for full inclusion in MSCI indices.
Eternal’s shares had recently seen a correction from record highs amid investor concerns over the profitability of its multiple business verticals, reports added.
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