Sensex closes lower for third session; Dr Reddy's, RIL, Sun Pharma top losers
BusinessToday.In May 4, 2021
Benchmark indices fell for the third straight session amid weak investor sentiment arising out of record Covid-19 cases. Sensex fell 465 points to 48,253 and Nifty ended 137 points lower at 14,496.
Top Sensex losers were Dr Reddy's, Reliance Industries, Sun Pharma, HDFC twins, Infosys, M&M and Bharti Airtel falling up to 2.26%.
On the other hand, ONGC, Bajaj Finance, TCS, SBI, Kotak Bank and Nestle India were among the gainers, rising up to 1.86 per cent. Of 30 Sensex stocks, 21 ended in the red.
BSE midcap and small cap indices fell 102 points and 125 points, respectively.
BSE consumer durables, healthcare and bankex indices were the top sectoral losers falling 350 points, 356 points and 211 points, respectively.
Investor wealth fell by Rs 1.24 lakh crore to Rs 206.83 lakh crore on BSE.
Market breadth was negative with 1,328 stocks rising against 1637 falling on BSE.
"Indices lost a percentage on Tuesday as the street punished earnings disappointment in several high-quality midcaps. Afternoon trade witnessed profit-taking in metals and pharma names as the street exhibited nervousness on regional lockdowns which accentuated the weakness.
"In the broader market, paper stocks were sought after today on hardening pulp prices while coffee producers saw investor appetite," said S Ranganathan, Head of Research at LKP Securities.
The total tally of coronavirus cases in the country mounted to 2,02,82,833 with 3,57,229 new infections being reported in a day, while the death toll increased to 2,22,408 with 3,449 new fatalities, according to the Union Health Ministry data updated on Tuesday.
The rupee gained for the second straight day and closed 10 paise higher at 73.85 against the US dollar on Tuesday.
Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 2,289.46 crore, as per exchange data.