BSE, NSE shrug 6 sessions' gains; auto stocks major loser
Sensex ended below 112 points at 27,166.87 on Tuesday trading session, while Nifty dipped by 35 points at 8,335.95.
The BSE Sensex shrugged off its six session gains on D-Street, led by massive profit booking in auto stocks tapped by June sales.
Sensex ended below 112 points at 27,166.87 on Tuesday trading session. However, the index did commenced its session by 27,340.72 higher from its previous closing of 27,278.76, but faced the brunt of selling pressure. It had 11 advances and 19 declines with turnover of Rs. 331.54 crore.
The 50-stock Nifty also followed the sentiments, dipped by 35 points at 8,335.95. It had 15 advances and 35 declines and 1 remaining unchanged.
Auto stocks were down by 218 points or 1.09% at 19,686.25. All market movers were down with Tata Motors at Rs. 460.55 (1.78%), Hero Motocorp at Rs. 3,106 (1.76%), Bajaj Auto at Rs. 2,616.95 (1.28%), MRF at Rs. 34,695.85 (1.22%). Mahindra & Mahindra and Eicher Motors both marginally down at Rs. 1,456.85 and Rs. 19,375 respectively. However, Maruti Suzuki remained unchanged from its previous closing of Rs. 4,170.15.
Nifty Bank also slumped by 93 points at 18,004.25. Private banks were the major losers on the index.
Top gainers on BSE were, Coal India at Rs. 321.75 up 1.35%, followed by Tata Steel, Reliance Industries Larsen & Tourbo, HDFC and Adani Ports ending in the range of o.50% - 0.90%.
Top Losers were Gail India at Rs. 386.90 (2.45%), Power Grid at Rs. 161.10 (2.36%), Bharti Airtel at Rs. 365 (2.16%) and NTPC at Rs. 152.60 (1.86%)
Further more, Indian equity indices shrinked following PM Narendra Modi's reshuffle of cabinet and global cues who were on thin line today.
Asian markets finished mixed as financial and commodities markets in the United States were closed on Monday for Independence Day. The Shanghai Composite were the only gainer at 3.006.39 up 0.60%, remaining all indices tumbled. The Hang Seng were major loser, slumped 1.53% at 20,737.16, while Nikkei 225 was down 0.67% at 15,669.33.
Apart from it European markets are also trading mixed. The FTSE 100 is higher by 0.56%, while the DAX is leading the CAC 40 lower. They are down 1.39% and 1.26% respectively.
Market closing commentary :