MARKET: Sensex erases day’s gains, ends 52 pts lower; Bharti Airtel dips 3%


NSE’s Nifty50 index ended at 11,317, down 38 points, or 0.33 per cent.

Erasing their intra-day gains, the benchmark indices settled flat with a negative bias on Tuesday amid selling in blue-chip counters such as Bharti Airtel, Axis Bank, HDFC, and Hindustan Unilever (HUL).

The S&P BSE Sensex today slipped 52 points, or 0.14 per cent to settle at 38,365. HCL Tech (up over 2 per cent) ended as the top gainer on the index while Tata Steel (down over 4 per cent) used to be the biggest loser. Of 30 constituents, 21 declined and the rest 9 advanced. 

NSE’s Nifty50 index ended at 11,317, down 38 points, or 0.33 per cent. India VIX gained over 3 per cent to 22.72 levels. 

Among individual stocks, Bharti Airtel traded lower for the fourth straight day on Tuesday. The inventory hit a four-month low all over the commerce. It settled at Rs 497.90, down over 3 per cent. READ MORE

Shares of Bharat Dynamics slipped 14 per cent to Rs 333 in the intra-day commerce as the government’s 15 per cent stake sale in the company via offer for sale (OFS) route opened for non-retail investors today. The floor price for the OFS has been constant at Rs 330 per share, a 14 per cent reduction to Monday’s closing price of Rs 385. The inventory ended at Rs 331.15, down 13.8 per cent. 

The sectoral trend on the NSE used to be negative. Barring Nifty IT, the entire other indices ended in the red. Nifty IT gained over 1 per cent to 18,396 levels. Then again, Nifty Media slipped the most – down 3 per cent to 1,604 while Nifty Metal cracked 2.99 per cent to 2,377. 

In the broader market, the S&P BSE MidCap index slipped 1.5 per cent to 14,483 while the S&P BSE SmallCap index ended 0.93 per cent lower at 14,437.53 levels.

Global markets 

Asian shares gained on Tuesday following a small bounce in European markets and shrugging off concerns over the newest US-China tensions, as investors looked to if high-flying US tech shares could get better from their recent rout.

China’s blue-chip index and Hong Kong’s Hang Seng gained 0.7 per cent and 0.5 per cent, respectively. The newly launched Hang Seng tech index fell 1.1 per cent.

In commodities, oil fell below $42 a barrel, its 5th session of decline, pressured by concerns that a recovery in demand could weaken as coronavirus infections flare up around the globe.

(With inputs from Reuters)

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