Sensex falls over 250 points, Nifty trades below 18,700; IIFL Securities & Timken India dive up to 16%; HDFC AMC jumps 8%
The 30-share BSE Sensex pack fell 202 points or 0.32 per cent to trade at 62,967, while the broader NSE Nifty moved 57 points or 0.30 per cent down to trade at 18,698. Mid- and small-cap shares were negative as Nifty Midcap 100 shed 0.13 per cent and small-cap edged 0.07 per cent down.
- Jun 20, 2023,
- Updated Jun 20, 2023 10:52 AM IST
Indian equity benchmarks traded lower in early deals on Tuesday, taking cues from the Asian markets. The domestic indices were dragged by banks, financials, aitomibile and energy stocks. The 30-share BSE Sensex pack fell 202 points or 0.32 per cent to trade at 62,967, while the broader NSE Nifty moved 57 points or 0.30 per cent down to trade at 18,698. Mid- and small-cap shares were negative as Nifty Midcap 100 shed 0.13 per cent and small-cap edged 0.07 per cent down.
"Some profit booking at high levels will be a good idea at this juncture. Chasing this rising market at high valuations will be risky," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On the global front, Asian markets slipped today ahead of US Federal Reserve Chair Jerome Powell's testimony on the interest rate trajectory. Wall Street equities were closed on Monday for a holiday.
Back home, foreign institutional investors (FIIs) sold Rs 1,030.90 crore worth of Indian equities on a net basis on Monday, while domestic investors offloaded Rs 365.20 crore of shares, as per provisional NSE data.
The recent selling activity by institutional investors emphasises a cautious sentiment prevailing in the market, said Ameya Ranadive CMT, CFTe Equity Research Analyst at Choice Broking.
13 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red today. Sub-indexes Nifty Bank, Nifty Financial Services, Nifty Auto and Nifty Oil & Gas were underperforming the NSE platform by falling as much as 0.35 per cent, 0.41 per cent, 0.69 per cent and 0.50 per cent, respectively.
On the stock-specific front, Bajaj Finance was the top loser in the Nifty pack as the stock cracked 1.46 per cent to trade at Rs 7,278. M&M, Hero MotoCorp, Bajaj Finserv and Hindustan Unilever fell up to 1.19 per cent.
In contrast, PowerGrid, SBI Life, HDFC Life, Wipro and Dr Reddy's were among the top gainers.
The overall market breadth was positive as 1,464 shares were advancing while 1,273 were declining on BSE.
On the 30-share BSE index, Reliance Industries, HDFC twins (HDFC and HDFC Bank), ICICI Bank, Bajaj Finance, HUL and ITC were among the top laggards.
Also, KPIT Tech, IIFL Securities, Timken India and Narbada Gems and Jewellery tanked up to 16.46 per cent. On the other hand, HDFC Asset Management Company jumped up to 8.06 per cent.
Sensex has declined 216 points to settle at 63,168 yesterday, while Nifty has lost 70 points to close at 18,755.
Also read: Wipro shares gain as IT firm says share buyback to open on June 22
Indian equity benchmarks traded lower in early deals on Tuesday, taking cues from the Asian markets. The domestic indices were dragged by banks, financials, aitomibile and energy stocks. The 30-share BSE Sensex pack fell 202 points or 0.32 per cent to trade at 62,967, while the broader NSE Nifty moved 57 points or 0.30 per cent down to trade at 18,698. Mid- and small-cap shares were negative as Nifty Midcap 100 shed 0.13 per cent and small-cap edged 0.07 per cent down.
"Some profit booking at high levels will be a good idea at this juncture. Chasing this rising market at high valuations will be risky," said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
On the global front, Asian markets slipped today ahead of US Federal Reserve Chair Jerome Powell's testimony on the interest rate trajectory. Wall Street equities were closed on Monday for a holiday.
Back home, foreign institutional investors (FIIs) sold Rs 1,030.90 crore worth of Indian equities on a net basis on Monday, while domestic investors offloaded Rs 365.20 crore of shares, as per provisional NSE data.
The recent selling activity by institutional investors emphasises a cautious sentiment prevailing in the market, said Ameya Ranadive CMT, CFTe Equity Research Analyst at Choice Broking.
13 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red today. Sub-indexes Nifty Bank, Nifty Financial Services, Nifty Auto and Nifty Oil & Gas were underperforming the NSE platform by falling as much as 0.35 per cent, 0.41 per cent, 0.69 per cent and 0.50 per cent, respectively.
On the stock-specific front, Bajaj Finance was the top loser in the Nifty pack as the stock cracked 1.46 per cent to trade at Rs 7,278. M&M, Hero MotoCorp, Bajaj Finserv and Hindustan Unilever fell up to 1.19 per cent.
In contrast, PowerGrid, SBI Life, HDFC Life, Wipro and Dr Reddy's were among the top gainers.
The overall market breadth was positive as 1,464 shares were advancing while 1,273 were declining on BSE.
On the 30-share BSE index, Reliance Industries, HDFC twins (HDFC and HDFC Bank), ICICI Bank, Bajaj Finance, HUL and ITC were among the top laggards.
Also, KPIT Tech, IIFL Securities, Timken India and Narbada Gems and Jewellery tanked up to 16.46 per cent. On the other hand, HDFC Asset Management Company jumped up to 8.06 per cent.
Sensex has declined 216 points to settle at 63,168 yesterday, while Nifty has lost 70 points to close at 18,755.
Also read: Wipro shares gain as IT firm says share buyback to open on June 22