Stock Market Today: Sensex falls 236 factors, Nifty ends at 16,125; IT, pharma, metals drag

The benchmark fairness indices on BSE and National Stock Exchange (NSE) ended round 0.5 per cent decrease on Tuesday weighed by info know-how (IT), pharmaceutical, metallic and fast-moving shopper items shares.

The S&P BSE Sensex fell 236.00 factors (0.43 per cent) to finish at 54,052.61 whereas the Nifty 50 slipped 89.55 factors (0.55 per cent) to settle at 16,125.15. Both the indices had opened on a flat be aware and inched increased within the early commerce however later gave up their beneficial properties and slipped decrease.

On the Sensex pack, Tech Mahindra was the highest loser on Tuesday falling practically 4 per cent. It was adopted by Hindustan Unilever, HCL Technologies, Asian Paints, NTPC, Infosys, Tata Steel, Axis Bank and Bajaj Finserv. In distinction, Dr. Reddy’s Laboratories, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank, HDFC Bank, Power Grid Corporation of India and Nestle India have been the highest gainers.

Among the sectoral indices, the Nifty Media index crashed 2.57 per cent, Nifty IT fell 1.88 per cent, Nifty Pharma declined 1.53 per cent, Nifty FMCG dropped 1.30 per cent and Nifty Metal index slipped 1.17 per cent. On the opposite hand, Nifty Financial Services rose 0.32 per cent and the important thing Nifty Bank inched 0.12 per cent.

In the broader market, S&P BSE MidCap index ended at 22,259.55, down 189.77 factors (0.85 per cent) whereas the S&P BSE SmallCap settled at 25,883.85, down 298.21 factors (1.14 per cent). On NSE, the volatility index or India VIX rose 9.56 per cent to 25.6350.

“Anxiety of slowing economy & rising interest rates underpinned by soaring inflation continued to haunt the global market. The UK and Eurozone composite PMI registered the slowest rise in business activity in the month of May, worsening global investor risk sentiment. On the domestic front, while all major sectors succumbed to the pressure, the auto sector bucked the market trend this month gaining on fuel price cut and rise in steel custom duty,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.

Global market

Shares slid worldwide on Tuesday as fears about weak earnings and slowing development punctured the current mini-rally, whereas hawkish remarks from European Central Bank Chief Christine Lagarde reminded edgy markets that fee hikes loom.

Nasdaq futures misplaced 2.06 per cent, with merchants blaming an earnings warning from Snap which noticed shares within the Snapchat proprietor tumble 28 per cent, whereas S&P 500 futures slipped 1.47 per cent. That adopted a 1.4 per cent fall in MSCI’s broadest index of Asia-Pacific shares exterior Japan, whereas the benchmark STOXX index of European shares fell 1.1 per cent.

-global market enter from Reuters