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    Closing Bell: Sensex ends 31 points lower, Nifty holds 14,900; banks drag, IT stocks gain

    Closing Bell: Sensex ends 31 points lower, Nifty holds 14,900; banks drag, IT stocks gain

    Closing Bell: Sensex ends 31 points lower, Nifty holds 14,900; banks drag, IT stocks gain
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    By CNBCTV18.com  IST (Updated)

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    The Sensex ended 31 points lower at 50,363 while the Nifty fell 19 points to settle at 14,910.

    Indian indices ended on a flat note but in the red on Tuesday as gains in IT and FMCG stocks were capped by losses in metals and banks. The Sensex ended 31 points lower at 50,363 while the Nifty fell 19 points to settle at 14,910.
    Broader markets, however, outperformed benchmarks with the midcap and smallcap indices up 0.3-0.4 percent each.
    "Indian market is impacted due to rising crude prices and selling by both FIIs & DIIs. We can expect FII selling to calm down post the Fed policy meet and ease in US bond yield, as an accommodative outlook is expected. The domestic sentiment is suppressed by rising covid-19 cases increasing the risk of a second wave and fall in macro data like production & rise in inflation," said Vinod Nair, Head of Research at Geojit Financial Services.
    On the Nifty50 index, Asian Paints, Dr Reddy's, HUL, HCL Tech, and Bharti Airtel were the top gainers while Cipla, Tata Steel, ICICI Bank, BPCL and SBI led the losses.
    Among sectors, the Nifty IT index rose the most, up 1.3 percent followed by the FMCG index, which gained 1 percent. Meanwhile, Nifty Auto was also in the green for the day.
    However, losses in Nifty Bank and Nifty Metal down around 1 percent each capped the gains. Nifty Fin Services also lost 0.7 percent during the day.
    Tata Communications fell 7 percent after the government announced that it is selling its stake in the company at a discount to the current prices. The offer for sale to sell the government's stake in the firm opened for non-retail investors on Tuesday. It will open for retail investors on Wednesday.
    AU Small Finance Bank's share price gained 3 percent after the company said that it has raised Rs 625.50 crore through the sale of shares to institutional investors.
    Pharma firm Gland Pharma rose 4.7 percent after the company said that it has entered into an agreement with the Russian Direct Investment Fund (RDIF) to produce and supply up to 25.2 crore doses of the Sputnik V COVID-19 vaccine
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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