Sensex, Nifty End Lower Amid Volatility: Market Wrap
The S&P BSE Sensex closed 0.37% down at 60,286.04, while the NSE Nifty 50 ended 0.24% lower at 17,721.50.
The Indian benchmark indices declined in trade on Tuesday after opening with slim gains amid volatility.
Adani Group stocks reversed losses and most of them were trading higher, with the exception of Adani Transmission Ltd., Adani Green Energy Ltd., Adani Power Ltd. and Adani Total Gas Ltd.
The S&P BSE Sensex closed 221 points, or 0.37%, down at 60,286.04, while the NSE Nifty 50 was 43 points, or 0.24%, lower at 17,721.50 by end of trading hours.
A gauge of Asian stocks pared gains, trimming its losses from the biggest two-day drop in four months.
European stocks advanced and the U.S. equity futures fluctuated as investors await the Federal Reserve Chair Jerome Powell's commentary later on Tuesday evening, that may shape the central bank's rate path.
Stoxx Europe 600 was modestly higher as energy stocks outperformed. S&P 500 and Nasdaq 100 contracts were about 0.1% lower.
Adani Enterprises Ltd., Dr. Reddy's Laboratories Ltd., Adani Ports And SEZ Ltd., Kotak Mahindra Bank Ltd. and IndusInd Bank Ltd. were the top gainers in the gauge.
Tata Steel Ltd., Hindalco Industries Ltd., ITC Ltd., Hero MotoCorp Ltd., Sun Pharmaceutical Industries Ltd. and Infosys Ltd. were the top losers among the NSE Nifty 50 constituents.
The broader market indices were mixed; the S&P BSE MidCap was up 0.02%, whereas the S&P BSE SmallCap was lower by 0.16%.
Fourteen out of the 19 sectors compiled by BSE Ltd. declined, while only five advanced in trade.
The market breadth was skewed in favour of bears. About 1,588 rose, 1,902 declined and 157 remained unchanged on the BSE.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.