Indian shares ended lower on Tuesday with the Nifty below 12,000 levels dragged by banking, metal and auto stocks. Losses in index heavyweights like HDFC Bank, Axis Bank, L&T, and IndusInd Bank majorly contributed to the fall.
Among stocks, Bajaj Auto, TCS, Bajaj Finserv, Kotak Bank and Infosys were the top gainers on the Nifty50, while Bharti Infratel, Yes Bank, Tata Steel, Adani Ports, and Zee led the losses.
All sectoral indices, except Nifty IT and Nifty Realty, ended the day in red. Major selling was seen in the metal, banking and auto sectors. Nifty PSU Bank index fell the most, down 2.86 percent, followed by Nifty Metal and Nifty Media, which were down 2.6 percent and 2.3 percent, respectively. Nifty Bank also lost 0.8 percent, while Nifty Pharma declined 1 percent for the day. Meanwhile, Nifty Realty rose over 1.3 percent and Nifty IT added 0.5 percent during the day.
Metal stocks declined amid the ongoing uncertainty around the US-China trade deal. JSPL, Tata Steel, JSW Steel, SAIL, and Vedanta fell between 3-7 percent.
PSU Banks were also under pressure with Bank of India, Union Bank of India, J&K Bank, Syndicate Bank, and Punjab National Bank down between 4.5-5.5 percent.
Yes Bank extended yesterday's fall, was down over 7 percent after brokerages flagged concerns over investment by ‘lesser-known’ investors in the bank. Yes Bank, on Friday, had said that it will raise $2 billion in an issue of preferential shares to institutional investors and wealth managers.
The Sensex ended 127 points lower at 40,675, while the Nifty50 index ended 54 points lower at 11,994. Broader markets underperformed benchmark indices with Nifty Midcap and Nifty Smallcap indices down 1.1 percent and 0.7 percent, respectively.
Among stocks, Bajaj Auto, TCS, Bajaj Finserv, Kotak Bank and Infosys were the top gainers on the Nifty50, while Bharti Infratel, Yes Bank, Tata Steel, Adani Ports, and Zee led the losses.
All sectoral indices, except Nifty IT and Nifty Realty, ended the day in red. Major selling was seen in the metal, banking and auto sectors. Nifty PSU Bank index fell the most, down 2.86 percent, followed by Nifty Metal and Nifty Media, which were down 2.6 percent and 2.3 percent, respectively. Nifty Bank also lost 0.8 percent, while Nifty Pharma declined 1 percent for the day. Meanwhile, Nifty Realty rose over 1.3 percent and Nifty IT added 0.5 percent during the day.
Metal stocks declined amid the ongoing uncertainty around the US-China trade deal. JSPL, Tata Steel, JSW Steel, SAIL, and Vedanta fell between 3-7 percent.
PSU Banks were also under pressure with Bank of India, Union Bank of India, J&K Bank, Syndicate Bank, and Punjab National Bank down between 4.5-5.5 percent.
Yes Bank extended yesterday's fall, was down over 7 percent after brokerages flagged concerns over investment by ‘lesser-known’ investors in the bank. Yes Bank, on Friday, had said that it will raise $2 billion in an issue of preferential shares to institutional investors and wealth managers.
First Published: Dec 3, 2019 3:30 PM IST
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