Indian market fell for the third straight session on Tuesday amid weak global cues. Sensex ended 105 points lower at 54,364 and Nifty lost 61 points to 16,240 in the second trading session of this week. Top Sensex losers were Tata Steel, Sun Pharma, NTPC, and Titan falling up to 6.95 percent.
HUL, IndusInd Bank and Asian Paints were among the top Sensex gainers, rising up to 3.24 percent.
Investor wealth declined to Rs 248.42 lakh crore today against Rs 251.91 lakh crore in the previous session. Of 30 Sensex stocks, 18 ended in the red. The market breadth was negative with 879 shares ending higher against 2476 stocks falling in the red. 132 shares were unchanged.
BSE mid-cap and small-cap indices crashed 449 points and 562 points, respectively. Metals, consumer durables, and IT stocks were the top sectoral losers with their BSE indices plummeting 1140 points, 865 points and 380 points, respectively.
Osho Krishan, senior Analyst - Technical & Derivative Research, Angel One said, "As we allude to our previous commentary, the unfilled gap of 16480-16650 is the sturdy wall for the bulls. Hence, looking at the technical setup, the market is likely to trade in the mentioned range until a breakout on either side is seen in a decisive manner. Some traction was seen in the midcaps and selective banking counters that kept the traders active throughout the day. Going forward, apart from the slender range-bound movement in the indices, many stock-specific adjustments are likely to continue. Hence, traders are advised to have a stock-centric approach in such a market scenario, and any aggressive bets should be avoided."
Meanwhile, rupee snapped its two-day losing streak and rose 12 paise to close at 77.32 against the US dollar supported by a rebound in regional currencies and fall in crude oil prices.
Rupee off record lows
At the interbank forex market, the rupee opened strong at 77.27 against the greenback and moved in a range of 77.20 to 77.45 in the day trade. The rupee finally ended at 77.32, 12 paise higher than its previous close.
Persistent foreign capital outflows dented investor sentiment, forex traders said. Foreign institutional investors continued their selling spree, offloading shares worth Rs 3361.8 crore on Monday, according to stock exchange data.
Elsewhere in Asia, markets in Tokyo, Hong Kong and Seoul ended lower, while Shanghai settled higher. Equity markets in Europe were quoting higher in the afternoon session. Stock exchanges in the US had fallen sharply on Monday. Meanwhile, international oil benchmark Brent crude dipped 1.82 per cent to $104 per barrel.
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