Stock markets tumbled on Tuesday with benchmark Sensex falling by 1,282 points due to profit-taking in IT and FMCG shares a day after a record rally.
Photograph: Francis Mascarenhas/Reuters
The 30-share BSE barometer tanked 1,281.68 points or 1.55 per cent to settle at 81,148.22 with 25 of its constituents closing with losses and five with gains.
During the day, it fell sharply by 1,386.21 points or 1.68 per cent to 81,043.69.
The broader Nifty of NSE dropped 346.35 points or 1.39 per cent to 24,578.35.
From the Sensex firms, Infosys declined by 3.54 per cent. Power Grid, Eternal, HCL Tech, Tata Consultancy Services, Bharti Airtel, IndusInd Bank, NTPC and HDFC Bank were the major laggards.
Sun Pharma, Adani Ports, Bajaj Finance, State Bank of India and Tech Mahindra were the gainers.
Profit-taking was evident across the board, with IT, FMCG, and auto sectors emerging as the top losers, Ajit Mishra – SVP, Research, Religare Broking Ltd said.
“The domestic market witnessed profit booking today, following yesterday’s sharp rally.
“The relief-driven surge—fuelled by easing global and domestic risks, including a reduction in trade war tensions and Indo-Pak geopolitical stress—appears to be taking a breather,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index and Shanghai’s SSE Composite index settled in the positive territory while Hong Kong’s Hang Seng ended lower. European markets were trading mostly higher.
US markets ended significantly higher on Monday following easing of trade tensions between China and the US.
The Nasdaq Composite surged 4.35 per cent, S&P 500 jumped 3.26 per cent and Dow Jones Industrial Average climbed 2.81 per cent.
Global oil benchmark Brent crude climbed 0.32 per cent to $65.17 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,246.48 crore on Monday after a day’s breather, according to exchange data.
