Following Flag-End Sell-Off, Markets Erase Early Gains; Nifty Falls Below Its Record

The Sensex and Nifty closed lower on Tuesday as a fag-end sell-off erased early gains, with IT and power sectors playing spoilsport in a mixed trend in global markets.

The 30-share BSE Sensex sank 188.50 points or 0.25 percent to 74,482.78. During the day, it had soared 440.11 points or 0.58 percent to 75,111.39.

The NSE Nifty dropped 38.55 points or 0.17 percent to 22,604.85. In the late afternoon trading, the benchmark reached an all-time high of 22,783.35, up 139.95 points or 0.61 percent.

IOCL, IRFC, Vedanta, HAL, Tech Mahindra, BPCL, Torrent Pharma, Ambuja Cements, and JSW Steel were the top laggards.

Among the gainers were RECL, Power Finance Corp, Mahindra & Mahindra, Bank Of Baroda, Power Grid Corp, PNB, and Adani Power.

In Asian markets, Tokyo, South Korea, and Hong Kong concluded higher, while Shanghai, Taiwan, and Malaysia finished lower.

European stocks were mostly trading lower.

US markets concluded with gains on Monday.

Brent crude gained 0.21 percent to USD 88.30 per barrel.

According to the exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 169.09 crore on Monday.

On Monday, The Sensex climbed 941.12 points or 1.28 percent to 74,671.28, while the moved 223.45 points or 1 percent to 22,643.40.

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