Benchmark indices closed lower on Tuesday, tracking losses in index heavyweights such as ICICI Bank, Kotak Bank and Infosys amid profit-booking. Sensex closed 185.93 points lower at 52,549 and Nifty tumbled 66.25 points to 15,748.
Top Sensex loser was Kotak Bank shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank.
PowerGrid, HUL, NTPC, Dr Reddy’s and Nestle India were among the top Sensex gainers rising up to 1.75%.
Market breadth was marginally positive with 1644 shares rising against 1587 falling on BSE.
Market cap of BSE-listed firms fell to Rs 226.69 lakh crore.
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said,”Nifty continued with its consolidation on June 29. As a result, the daily Bollinger Bands have contracted even further. On the downside, the index has reached its 20 DMAs.
Previous minor degree dip in the last week found support near this key short term moving average & the Nifty bounced thereon. The same is expected yet again. The swing low of 15673 will be the subsequent near term support. On the other hand, the swing high of 15915 will be the key barrier to watch out for.”
BSE mid cap and small cap indices fell 96 points and 18 points, respectively.
Banking, metal and poil and gas stocks were the biggest losers falling 424, 255 and 200 points, respectively.
Rupee fell by 4 paise to end at 74.23 (provisional) against the US dollar as weaker domestic equities and stronger dollar index weighed on forex market sentiment.
It hovered in the range of 74.20 to 74.28 during the day before ending at 74.23 against the dollar.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with losses. Stock exchanges in Europe were, however, trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.27 per cent lower at $73.94 per barrel.