Mumbai: On Tuesday, Indian stock markets saw a sharp fall, ending a strong rally from the previous day. The BSE Sensex dropped by 1,282 points or 1.55 per cent, closing at 81,148.22. The Nifty also fell by 346 points or 1.39 per cent, ending at 24,578.35.
This fall came a day after the markets hit a seven-month high on Monday. Investors decided to book profits, especially in IT and FMCG stocks, which led to the drop.
Top Gainers and Losers
Out of the 30 Sensex companies, 25 ended in the red. Infosys fell the most by 3.54 per cent, followed by losses in Power Grid, HCL Tech, TCS, Bharti Airtel, and HDFC Bank. On the other hand, a few stocks like Sun Pharma, Adani Ports, Bajaj Finance, SBI, and Tech Mahindra managed to close higher.
What Experts Say
Experts say that after Monday’s big rally, the market needed a pause. Ajit Mishra from Religare Broking noted that IT, FMCG, and auto sectors saw the most profit booking. Vinod Nair from Geojit added that the recent gains came from easing global risks, such as lower trade tensions and better India-Pakistan relations.
Global Market Mood
Most Asian markets like Japan and South Korea closed higher, while Hong Kong fell. European markets were mostly up. On Monday, US markets had a strong session, with Nasdaq jumping 4.35 per cent, S&P 500 gaining 3.26 per cent, and Dow rising 2.81 per cent.
Other Market Updates
Brent crude oil prices edged up to USD 65.17 per barrel. Foreign investors were net buyers on Monday, putting in Rs 1,246 crore into Indian equities after a day’s break.
(With PTI Inputs)
