Markets Tumble For 3rd Day In Tumultuous Trade Ahead Of Poll Results

Benchmark equity indices Sensex and Nifty closed lower on Tuesday in tumultuous trade, extending their losing streak to the third day in a row as investors sought profit amid uncertainty ahead of Lok Sabha polls results.

After fluctuating between gains and losses throughout the day, the 30-share BSE Sensex finished 220.05 points or 0.29 percent lower at 75,170.45. During the day, it peaked at 75,585.40 and fell to 75,083.22.

Despite starting the day on a bullish note, the NSE Nifty sank 44.30 points or 0.19 percent to 22,888.15.

Adani Power, Info Edge (India), DLF, HAL, IRFC, Bank Of Baroda, Adani Ports, Adani Total Gas, Tata Power, ABB India, and LIC were the top laggards.

Among the gainers were Divi’s Labs, SBI Life Insurance, United Spirits, HDFC Life Insurance, Grasim Industries, Berger Paints, Hero MotorCorp, and ICICI Prudential.

In Asian markets, Singapore, Indonesia, and Thailand closed higher, while South Korea, Taiwan, Shanghai, Tokyo, Malaysia, and Hong Kong ended lower.

On Monday, US markets were closed in observance of the Memorial Day holiday.

Brent crude gained 0.13 percent to USD 83.21 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 541.22 crore on Monday.

On Monday, the Sensex dropped 19.89 points or 0.03 percent to 75,390.50, while the Nifty dipped 24.65 points or 0.11 percent to 22,932.45.

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