Sensex, Nifty end lower; bank, financials drag
At 3:25pm, the 30-share S&P BSE Sensex was down 246.04 points or 0.78% at 31,469.31, and the NSE Nifty 50 index was lower at 81.15 points or 0.87% at 9,212.35.Updated: May 05, 2020, 16:28 IST
Domestic equity markets gave up opening gains and ended nearly 1% lower on Tuesday, dragged by banking and financial shares.
The S&P BSE Sensex closed 261.84 points or 0.83% to close at 31,453.51 and NSE Nifty 50 indexes fell 87.90 points to 9,205.60. The BSE Sensex index fell 810 points from the day’s highest of 32,2634.
The Sensex and Nifty had opened on a positive note on Tuesday tracking positive Asian shares but failed to sustain gains as trading progressed.
State Bank of India (SBI) was the top loser, down 4.64%, among BSE stocks, followed by Bajaj Finance and Axis Bank, which fell 3.76% and 3.38% respectively.
SBI share price hit a 52-week low of Rs 168 apiece on Sensex amid a choppy trade after hitting the day’s high of Rs 181.80 per share.
Mahindra & Mahindra was among the top gainers, which was up by 3.12%. Power Grid Corp and ONGC gained 2.93% and 2.61% respectively.
Mahindra & Mahindra was the top gainer in Nifty, up 3.21%, followed by Power Grid Corp and ONGC, which gained 2.89% and 2.68% respectively. Reliance Industries, NTPC, Bharti Infratel, HCL Tech, Eicher Motors were the other prominent gainers in the Nifty.
Tata Motors, Kotak Mahindra Bank, Wipro, Coal India, Bajaj Finserv, Dr Reddy’s Labs, Gail, Cipla, ICICI Bank were among prominent losers in the Nifty.
Domestic investor sentiment remained volatile despite positive cues from the global market, amid a rising number of Covid-19 cases in the country, they said.
Bourses in Hong Kong ended over 1% higher, while those in Shanghai, Tokyo and Seoul were closed for a holiday.
Stock exchanges in Europe were trading with significant gains.
The rupee surged 10 paise to provisionally close at 75.63 against the US dollar. International oil benchmark Brent crude futures rallied 7.02% to $29.11 per barrel.
(With agency inputs)