Market Closing: Sensex falls 704-pts, Nifty Holds 16950

Indian equity indexes fell for the fifth consecutive day on Tuesday led by severe selling pressure in information technology (IT), financial, and consumer goods firms. Throughout the day, the domestic indices bounced between gains and losses before falling drastically in late trades.

Investor morale was harmed by lower quarterly corporate results, the ongoing Russia-Ukraine confrontation, and concerns about rising inflation.

The 30-share BSE Sensex fell 704 points, or 1.23 percent, to 56,463, while the wider NSE Nifty dropped 215 points, or 1.25 percent, to 16,959.  Mid- and small-cap stocks finished down, with the Nifty Midcap 100 index down 1.37 percent and the small-cap index down 1.66 percent, respectively.

The NSE's 15 sector indicators all finished in the red. Nifty Information Technology, Nifty FMCG, and Nifty Financial Services all underperformed the index by 2.98 percent, 2.82 percent, and 2.03 percent, respectively.  The top Nifty loss was HDFC, which fell 6.26 percent to Rs 2,121.75. The laggards included HDFC Life, SBI Life, HDFC Bank, and Tata Consumer Products.

On the BSE, the total market breadth was negative, with 1,164 shares rising and 2,248 falling. HDFC Housing, HDFC Bank, Infosys, ITC, Tech Mahindra, HCL Tech, Hindustan Unilever, Kotak Mahindra Bank, Maruti and Nestle India were among the worst performers on the 30-share BSE index.  Reliance Industries, ICICI Bank, SBI, and Bajaj Finance, on the other hand, ended the day in the green

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