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23 May, 2024 16:01 IST
Sensex tumbles 554 points; Nifty ends below 18,150

Indian equities ended on a disappointing note on Tuesday tracking weak global cues.  All the sectorial indices ended in red with major selling seen in Auto, Metal and Realty down more than 2% each. Volatility index, India Vix rose ~5.7% at 17.73 levels. Broader market underperformed with nifty midcap 100/ nifty smallcap 100 down ~2% each.

At the close, the benchmark 30-share index, BSE Sensex tumbled 554.05 points or 0.90% at 60,754.86. Meanwhile, the broad based NSE Nifty traded lower by 195.05 points or 1.07% at 18,113.05.


Biggest gainers in the 30-share index were Axis Bank (1.83%), HDFC Bank (0.53%), ICICI Bank (0.48%), Kotak Mahindra Bank (0.34%), Dr Reddy’s (0.25%), Titan (0.04%) and Nestle (0.03%).


On the other hand, Maruti Suzuki (4.05%), UltraTech Cement (3.83%), Tech Mahindra (3.54%), HCL Technologies (3.09%), Tata Steel (2.86%), IndusInd Bank (2.22%), Larsen & Toubro (2.14%) and Bharti Airtel (2.03%) were the major losers in the Sensex. Market breadth was negative with 1,145 advances against 2,285 declines.

Globally markets are weak as US treasury yields surged 1% for the first time in two years. Also, the Bank of Japan raised its inflation forecasts slightly to 1.1% from 1%.

"Investors continue to monitor the global economic recovery from COVID-19. Markets have witnessed some profit-booking over the last few days and Nifty need to hold above the psychological level of 18,000 to maintain the bullish stance. Traders are advised to maintain their stock / sector specific approach in the market," commented Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

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