Markets End Lower; Sensex Drops 383 Points

Equity benchmark indices fell on Tuesday, pulled by HDFC Bank, Reliance Industries, and ICICI Bank, amid concerns over equities’ overvaluation.

After paring all its early gains, the 30-share BSE Sensex dipped 383.69 points or 0.52 percent to 73,511.85. During the day, it slipped 636.28 points or 0.86 percent to 73,259.26.

The NSE Nifty slid 140.20 points or 0.62 percent to 22,302.50.

SRF, Varun Beverages, Bajaj Auto, Zydus, JIO Financial Serv., Power Grid Corp, PNB, IOCL, IRFC, TVS Motor Company, Power Finance Corp, Torrent Pharma, and Vedanta were the top laggards.

Among the gainers were Marico, Godrej Consumer, Hindustan Unilever, Dabur India, Tech Mahindra, Britannia Industries, Nestle India, TCS, Avenue Supermarts, and ITC.

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

European stocks were trading in green.

US markets concluded with gains on Monday.

Brent crude gained 0.23 percent to USD 83.57 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 2,168.75 crore on Monday.

On Monday, the Sensex moved 17.39 points or 0.02 percent to 73,895.54, while the Nifty lost 33.15 points or 0.15 percent to 22,442.70.

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