The key indices for Indian equities on Tuesday failed to maintain the bullish momentum, and they ultimately finished lower, reversing early gains. Despite favourable signs from the Asian markets, the local indices fell, being pulled down by companies in the banking, consumer, and technology sectors.
The 50-share NSE Nifty fell 25 points or 0.15 percent lower to conclude at 15,811, while the 30-share BSE Sensex dropped 100 points or 0.19 percent lower to close at 53,134. The Sensex fluctuated by 812 points in a band throughout today's session.
Eleven out of the 15 sector gauges of the NSE settled in the red. The Nifty Bank, Nifty Auto, Nifty FMCG, and Nifty Consumer Durables sub-indices dived as much as 0.70 percent, 0.37 percent, 0.36 percent, 0.16 percent, and 0.13 percent, respectively. On the other hand, Nifty Healthcare, Nifty Metal, and Nifty Oil & Gas, displayed strength by increasing by 0.34, 0.30, and 0.18 percent, respectively.
The largest Nifty loser was HDFC Life, whose stock fell 1.81 percent to 563.90. Along with Britannia, ITC, Wipro, Maruti, and other companies lagged behind.
Asian Paints, Infosys, Kotak Mahindra Bank, ITC, Wipro, M&M, L&T, Maruti, IndusInd Bank, HDFC, Axis Bank, and TCS were among the top losses on the 30-share BSE index, with their shares falling as high as 1.73 percent. On the other hand, PowerGrid, Bajaj Finserv, Hindustan Unilever, Sun Pharma, Reliance Industries, Tata Steel, Dr. Reddy's, Bajaj Finance, UltraTech Cement, Bharti Airtel, and Tech Mahindra, finished in the green.