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Closing Bell: Sensex, Nifty end lower as IT, banks drags; Yes Bank cracks 10%

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Indian shares ended lower on Tuesday, amid broad-based selloff, dragged by IT, metal, and banking stocks. The Sensex ended 247 points lower at 40,240, while the Nifty50 index ended 81 points lower at 11,857.

Closing Bell: Sensex, Nifty end lower as IT, banks drags; Yes Bank cracks 10%
Indian shares ended lower on Tuesday, amid broad-based selloff, dragged by IT, metal, and banking stocks. Losses in index heavyweights like TCS, ITC, Axis Bank, HDFC and Reliance Industries also added to the fall.
Meanwhile, Asian equity markets were also a tad lower as investors refrained from making major bets before December 15, when the next round of US tariffs on Chinese imports is due to take effect.
The Sensex ended 247 points lower at 40,240, while the Nifty50 index ended 81 points lower at 11,857. Broader markets also underperformed the benchmarks with Nifty Midcap and Nifty smallcap down 1.3 percent and 1.1 percent, respectively.
Among stocks, Bajaj Finance, HUL, Cipla, Eicher Motors, and Bharti Airtel were the top gainers on the Nifty50, while Yes Bank, Zee, GAIL, JSW Steel, and BPCL led the losses.
All sectoral indices ended the day in red. Nifty Media fell the most, down nearly 2 percent, followed by Nifty PSU Bank which fell 1.6 percent. Nifty IT and Nifty Metal also lost 1.4 percent each. Nifty FMCG also declined 1 percent, while Nifty Auto and Nifty Realty fell around 0.8 percent. Nifty Bank lost 0.5 percent for the day.
IT stocks fell as ruppe rose to over a month high during the day. NIIT Tech, JustDial, TCS, Tata Elxsi, MindTree, and HCL Tech lost over 1 percent each.
Yes Bank fell 10 percent ahead of its board meet, where the bank’s board is likely to reject Canadian industrialist Erwin Singh Braich's $1.2 billion bid at its December 10 meeting, according to media reports.