New Delhi:
Indian stock benchmarks traded lower on deal opening Tuesday, swept up by information technology and consumer discretionary.
Trends on Singapore Exchange’s Nifty Futures (SGX Nifty) pointed to a gap-down start for domestic indices.
The 30-share BSE Sensex fell 521 points, or 0.94 percent, to 55,154, while the broader NSE Nifty fell 127 points, or 0.77 percent, to trade at 16,442.
Mid and small cap stocks were negative as Nifty Midcap 100 fell 0.63 percent and small cap 0.62 percent.
Market participants await the outcome of the Monetary Policy Committee meeting of the Reserve Bank of India (RBI), which is due to take place on June 8.
All 15 sector gauges – compiled by the National Stock Exchange – were in the red. Sub-indexes Nifty IT and Nifty Consumer Durables underperformed the NSE platform by falling as much as 1.09 percent and 1.12 percent.
On the stock-specific front, Titan was the top loser as the stock cracked 4.21 percent to Rs 2,106.05. Asian Paints, Hindustan Unilever, Dr. Reddy’s and SBI Life were also among those left behind.
Overall market size was somewhat weak as 1,192 shares rose, while 1,254 shares fell for BSE.
On the 30-stock BSE index, Titan, HUL, Asian Paints, Dr Reddy’s, Sun Pharma, Maruti, Nestle India, Kotak Mahindra Bank, Bajaj Finserv, M&M, Bajaj Finance and TCS were among the biggest losers.
In contrast, NTPC, PowerGrid and Reliance Industries traded in the green.
Sensex was down 94 points, or 0.17 percent, to close Monday at 55,675, while Nifty was down 15 points, or 0.09 percent, to settle at 16,570.