Sensex falls 384 points due to selling in HDFC Bank, Reliance, Nifty slips to 22,300

Mumbai Local stock markets fell on Tuesday and BSE Sensex fell 384 points. The market fell due to selling in HDFC Bank, Reliance Industries and ICICI Bank amid concerns over high valuations of shares. The 30-share Sensex closed at 73,511.85, down 383.69 points, or 0.52 percent. At one time during trading it had fallen to 636.28 points. National Stock Exchange’s Nifty also closed at 22,302.50 points with a decline of 140.20 points or 0.62 percent.

Among Sensex stocks, PowerGrid, IndusInd Bank, Tata Motors, JSW Steel, NTPC, HCL Technologies, Tata Steel, ICICI Bank, Mahindra & Mahindra, Axis Bank, HDFC Bank and Reliance Industries were major losers. On the other hand, Hindustan Unilever rose more than five percent. Other gainers included Hindustan Unilever, Tech Mahindra, Nestle, ITC, Wipro, Tata Consultancy Services and Kotak Mahindra Bank. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei and China’s Shanghai Composite were in profit while Hong Kong’s Hang Seng was in loss.

There was a bullish trend in early trading in the major markets of Europe. American market Wall Street remained in profit on Monday. Global oil benchmark Brent crude was trading 0.23 per cent stronger at $83.51 per barrel. According to stock market data, foreign institutional investors sold shares worth Rs 2,168.75 crore on Monday. BSE Sensex was up marginally by 17.39 points on Monday while NSE Nifty was down by 33.15 points.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.

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