Mumbai, India (BBN) – Indian shares fell about 0.30 per cent after opening flat on Tuesday on profit-booking and sluggish global cues.
The Sensex opened 3 points higher at 28,443.23 against Monday’s close of 28,439.28, reports The Hindu Business Line.
Similarly, the NSE Nifty opened at 8,805.70 against Monday’s close of 8,801.05.
At about 11.15am, the Sensex fell 85.41 points or 0.30 per cent at 28,353.87. Similarly, the NSE Nifty was down 28.10 points or 0.32 per cent at 8,772.95.
Volatility was up 1.64 per cent with the India Vix quoting at 13.6175.
The 30-share index had gained 783.32 points in the past four sessions.
The advances to declines ratio was tilted towards declines. On the Nifty, 33 stocks declined against 17 that advanced. On the Sensex 19 stocks declined against 11 that advanced.
Tata Motors, M&M, Adani Ports, Bajaj Auto and Reliance were down by up to 2.16 per cent on the Sensex.
ITC, Asian Paints, Sun Pharma, Tata Steel and NTPC lent support with gains of up to 0.65 per cent.
The BSE sectoral indices were trading mixed. Consumer durables and FMCG rose by up to 0.61 per cent.
Auto and banking succumbed to the flurry in profit—booking. Ashok Leyland fell 1.5 per cent, Bharat Forge was down 1.22 per cent and Bosch was down 1.3 per cent.
Federal Bank was down 0.89 per cent and HDFC Bank 0.44 per cent.
Brokers said that apart from profit—booking in recent gainers, a weak trend in other Asian bourses following overnight losses in the US and European markets, cut short the four—day march of the doemstic bourses.
Besides, caution prevailed ahead of RBI monetary policy review tomorrow which cast a shadow on sentiments, they added.
Appetite for Asian stocks and the euro evaporated on Tuesday as economic and political fears sent investors seeking shelter in the yen, while forecasts China’s foreign exchange reserves has fallen for a seventh month added to jitters.
MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.15 percent while Japan’s Nikkei dropped 0.45 per cent as a stronger yen depressed stocks.
US stocks slipped on Monday, led by the energy sector as oil prices dropped, while investors awaited the next run of major earnings reports and sought further clarity on President Donald Trump’s economic policies.
A report by IFA Global said: “Asian stock markets are trading in the red, with Hang Seng index trading lower by 2 points and Nikkei index is trading lower by 85 points following sluggishness in global equities and amid risk-off sentiment.
US stock markets closed on a negative note, the Dow Jones Industrial Average closed lower by 19 points and Nasdaq index closed marginally higher by 3 points.
US equities closed lower as investors try to make sense of US President Donald Trump’s policy noise.
European stock markets closed lower, with FTSE closed lower by 16 points and CAC lower by 47 points. European markets ended the day lower after European Central Bank President Mario Draghi testified before the European Parliament.”