Stock Market Closed: After fluctuations, major indices fell, Trent’s shares fell 12 percent
Mumbai. Domestic stock markets fell on Tuesday and major indices closed in the red after day-long fluctuations. Shares of Tata Group’s retail company Trent fell by more than 12 percent. BSE Sensex closed at 78,180.72, down 104.35 points (0.13 percent). The Nifty-50 index of the National Stock Exchange was also down by 31.65 points or 0.13 percent at 24,398.70 points. Both the major indices were at their highest level in two and a half months on Monday. All-round selling was seen in the market.
In the macro market, Nifty Midcap-50 index remained stable while Smallcap-100 index slipped 0.55 percent. Trent had said in an update on Monday that its revenue has increased by 19 percent to Rs 5,666 crore in the first quarter of the current financial year ending June 30. This growth is less than the market’s expectations, due to which a selloff was seen in its shares. The highest growth was seen in the IT sector.
Indices of consumer durable products and FMCG groups also remained in the green. Indices of metal, pharma, banking, realty, chemical, health and media groups closed down. In the Sensex, shares of HCL, Infosys and Tech Mahindra rose around three percent. There was a rise of 2.62 percent in Titan and two percent in Eternal. Shares of TCS and Bajaj Finance strengthened by one to two percent.
Shares of Bajaj Finserv, Maruti Suzuki and Hindustan Unilever also gained. Among the losers, after Trent, shares of Adani Ports, BEL, L&T and Reliance Industries fell between one and two percent. Shares of ICICI Bank, Asian Paints, NTPC, Tata Steel, Sun Pharma, PowerGrid and UltraTech Cement were also in the red.
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