“Despite a strong start, domestic markets ended the day on the negative side. Trump's uncertain tariff plan, selling by foreign institutions and jitters driven by disappointing third quarter earnings weighed on the market,” Senior Technical Analyst at Stocksbox , said Amey Ranadive, Chartered Market Technician, CFTE. Among Sensex stocks, Zomato was the biggest loser, falling 10.92 per cent due to weak Q3 earnings. NTPC, Adani Ports, ICICI Bank, State Bank of India, Reliance Industries, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra and Axis Bank were major laggards.
UltraTech Cement and HCL Technologies were the only gainers. In the broader market, the BSE midcap gauge fell 2 per cent and the smallcap index declined 1.94 per cent. Among BSE sectoral indices, Realty fell the most, falling 4.22 per cent, followed by Consumer Durables (3.99 per cent), Consumer Discretionary (2.90 per cent), Services (2.86 per cent), Power (2.63 per cent), Telecommunication (2.52 per cent) and Utilities. A decline was recorded (2.35 percent).
All 13 sectors were in the red during the day, with realty and consumer durables under pressure, leading to significant losses in key components of sectoral indices (Oberoi Realty and Dixon Tech). “On a stock-specific note, Zomato declined 10 per cent due to weak earnings, with a significant focus on weak profitability,” Ranadive said. According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 5,920.28 crore on Tuesday.
Comments are closed.