S&P BSE Sensex and Nifty 50 dived today by nearly 1% each as stocks of IT companies, Bank companies, and financial services performed very badly.
Mixed reactions and performances from the Asian and European capital markets coupled with a continuing bearish attitude among traders in India pushed markets down for the second day in a row.
S&P BSE Sensex lost 497.73 (-0.89%) points to close the market at 55268.49 points. The previous close of Sensex was 55766.22.
Top gainers in the index were Bajaj Finserv (5.58%) Bharti Airtel (0.83%) power grid (0.53%) Bajaj finance (0.50%) ITC (0.43%) and UltraTech cement (0.21%)
Top losers were Infosys (-3.40%) Axis Bank (-3%) Hindustani Unilever (-2.84%) Dr Reddy’s (-2.78%) and Wipro (-2.28%).
After a string of consecutive losses, Reliance industries on Tuesday gained 0.01% to close the trading at 2420.5
Infosys limited lost 51.05 per share to close the market at 1451.80 as an after effect of missing the forecast on net profit for the quarter which ended in June. Infosys released its quarterly earnings on Sunday and posted net profit growth of 3.1 per cent on a year-to-year basis. This was less than what the stock analysts had forecasted.
Out of 30 stocks listed on S&P BSE Sensex, 9 stocks advanced, while 21 stocks ended their market in Red.
Apart from Sensex, BSE Sensex Next 50 also plummeted heavily on Tuesday as the index lost 704.62 points to conclude the trading at 46615.76.
Analysing the overall market on the Bombay stock exchange, out of 3467 stocks traded, 1110 stocks advanced while 2228 stocks declined. 129 stocks remain unchanged in their share value.
The benchmark index of the national stock exchange Nifty 50 lost 147.15 points on Tuesday to close the market at 16483.85 points.
Top gainers in the index word Bajaj Finserv (5.33%) JSW Steel (1.76 %) Grasim (1.10%) Bharti Airtel (0.68%) power grid (0.63%) and Bajaj finance (0.53%).
The Top losers were Infosys (-3.51%) Hindustan Unilever (-3.08%) Axis Bank (-2.88%) Dr Reddy’s laboratories (-2.74%) and Kotak Bank (-2.37%).
Out of 50 stocks traded in Nifty 50, 12 stocks advanced, while 38 stocks concluded their trading in the red.
NIFTY next 50 which opened the market day at 40164.10 lost 509.40 points to close the market at 39613.10.
Out of sectoral indices in the National stock exchange, only the Nifty Media gained on today as the index increased by 16.95 points to end trading at 1979.85.