New Delhi: Indian stock market snapped its longest winning streak in nearly 10 months on Tuesday as the key indices closed lower for the first time in eight sessions after hitting record highs during the day.
Buying sentiments in heavyweights such as Larsen and Toubro, Tech Mahindra and Infosys was negated by profit-booking in the likes of ITC and Tata Motors. At the closing point, The BSE Sensex ended the session at 61,716.50, lower by 49 points and the NSE Nifty ended at 18,418, down 58 points or 0.30 percent. The broader markets settled with a deep cut, with the BSE Midcap index losing 2.2 percent and BSE Smallcap index shedding 1.9 percent.
Shares of L&T gained 3 percent at Rs 1844.95 on the BSE after L&T Infotech, an L&T Group company, had reported net profit of Rs 552 crore for the second quarter ended September 30, 2021, up 21 percent on a year-on-year basis. Tech Mahindra, Bajaj Finserv and Infosys were the other significant gainers in the BSE Sensex pack.
On the other hand, ITC slipped 6.2 percent to top the losers list on the BSE after the Ministry for Heath and Family Welfare set up an expert panel to review the taxation policy for tobacco products. Titan, Tata Steel and Powergrid also shed around 3 percent each on the BSE.