Benchmark indices Sensex and Nifty ended the session in the red as investors turned cautious amid escalating tensions between the US and Iran and a global technology-led sell-off.
The 30-share BSE Sensex closed 442.93 points lower at 77,708.52. During the day, the benchmark hit a high of 78,151.45 and a low of 77,368.29, gyrating 783.16 points. The 50-share NSE Nifty was down by 95.80 points or 0.39 per cent and ended the session at 24,238.50. However, the broader market ended the session in the green. While the BSE MidCap Select Index gained 72.20 points or 0.39 per cent, the BSE SmallCap Select Index fell 48.75 points or 0.56 per cent.
Among sectoral indices, Nifty Private Bank witnessed substantial selling and fell 2.27 per cent, followed by Nifty Auto and Nifty Realty.
“After Friday’s strong advance, Nifty corrected on Monday, slipping 95 points to close at 24,238. The index opened 144 points lower on the back of a sharp rise in crude prices and spent the early session in a tug of war between bulls and bears, with sellers controlling momentum through the first half. In the second half, Nifty recovered more than 100 points from the day’s low, which helped limit the overall decline. NSE cash market turnover also fell 6% from the previous trading session,” said Nandish Shah – Deputy Vice President, HDFC Securities.
Top gainers and losers
Among the 30-Sensex firms, Trent, Power Grid, NTPC, Bharti Airtel and State Bank of India were the major gainers, with Trent gaining 2.98 per cent today. On the flip side, Axis Bank, HDFC Bank, Maruti, Kotak Bank and Infosys were among the laggards. Axis Bank’s shares fell 5.48 per cent today.
Today, shares of 19 out of 30 Sensex companies closed in the green, while the remaining 11 closed in the red. On the other hand, shares of 36 of the 50 Nifty 50 companies also closed in the green, while the remaining 14 closed in the red.
Rupee falls 14 paise
Meanwhile, the rupee depreciated from the previous close of 96.35 to 96.44 against the dollar today, as Brent crude oil remained elevated near USD 90 per barrel. Persistent FII outflows also continued to weigh on the domestic currency.