IndusInd Bank, Tata Steel, NTPC, Bharti Airtel, HCL Tech and ICICI Bank were the top gainers in the Sensex pack. (representative image)
New Delhi: Equity indices fell for the third consecutive session on Tuesday in the benchmark BSE Sensex, dragged by metals, banking and financial stocks, amid weak global cues.
The 30-share BSE index fell 355 points, or 0.68 per cent, to end at 52,199; While the broader NSE Nifty closed 120 points or 0.76 per cent lower at 15,632.
IndusInd Bank, Tata Steel, NTPC, Bharti Airtel, HCL Tech and ICICI Bank were the top losers in the Sensex pack, falling 3.4 per cent.
While Asian Paints, Ultra Semco, HUL, Maruti and TCS were the top losers, rising up to 5.59 per cent.
On the NSE platform, except Nifty FMCG, all other sub-indices saw losses of up to 2.58 per cent in Nifty Media, Metal, PSU Bank and Private Bank.
According to experts, global sell-off due to mixed corporate earnings and spurt in cases of the delta variant weighed on investor sentiments.
VK Vijayakumar, chief investment strategist at Geojit Financial Services, told news agency PTI that the 725-point cut in the Dow on Monday – the worst in 2021 – is a reflection of risk-off in global markets.
“Various reasons have been attributed to this improvement: rising Covid cases in the US and UK due to the delta variant, inflation concerns and concerns about growth falling below consensus expectations.
“All this can happen. The fact is that at high valuations when investors are sitting on big profits, any fear can trigger profit-booking and correction,” he said.
Asian stocks were also subdued as the fast-spreading delta version of the coronavirus raised fears that further lockdowns could exacerbate the global economic recovery.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they sold shares worth Rs 2,198.71 crore on Monday, according to provisional exchange data.
(with inputs from agencies)
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