Indian shares ended lower on Tuesday dragged by index heavyweights like Reliance Industries, HDFC Bank, HCL Tech, and TCS.
Indian shares ended near day's low on Tuesday dragged by index heavyweights like Reliance Industries, HDFC Bank, TCS, and HDFC. Major selling was seen in IT, auto and financial indices during the day.
Meanwhile, Asian shares also edged lower as the holiday lull offset optimism that a US-China trade deal will boost exports and corporate earnings.
The BSE Sensex ended 181 points lower at 41,461 and the Nifty50 settled 48 points lower at 12,214. Nifty Midcap and Nifty Smallcap indices also fell around 0.2 percent each.
Yes Bank, Cipla, IndusInd Bank, JSW Steel, and ONGC were the top gainers on the Nifty50 index, while BPCL, HCL Tech, Reliance Industries, Eicher Motors, and UPL led the losses.
Among sectors, major selling was seen in IT, auto, and energy indices. Nifty Energy shed 0.8 percent for the day, while Nifty IT and Nifty Media were down 0.5 percent each. Nifty Auto also lost 0.4 percent for the day and Nifty Bank was down 0.15 percent. Meanwhile, among gainers, Nifty Metal advanced 0.5 percent and Nifty Pharma added 0.12 percent.
BPCL shares fell over 2.5 percent after sources told CNBC-TV18 that the lengthy process of strategic divestment is bound to take BPCL stake sale beyond March 31.
Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.14 percent. Blue-chip shares in China rose 0.37 percent after Premier Li Keqiang said on Monday the government was considering more measures to lower corporate financing costs. Australian shares also rose 0.13 percent, while South Korean shares fell 0.54 percent. Japan’s Nikkei nudged 0.04 percent higher.
First Published: IST