Stock Market Today: Sensex, Nifty Log Worst Session In Over A Week As Banking Shares Drag

The local currency settled flat at 83.97 against the US Dollar on Tuesday.

Source: Cogencis

Benchmark Indian equity indices ended lower in the second consecutive session to log their worst session since August 5 as shares of banks weighed on them.

HDFC Bank fell in today's session after the weightage of the private lender in MSCI India Domestic Index decreased 0.20% to 8.31%. Meanwhile, it got an expected weight increase in MSCI Global Standard Index.

The Nifty closed 0.85% or 208 points lower at 24139.0 and the Sensex closed 0.87% or 692.89 points lower at 78956.03. Intraday, the both the Nifty and Sensex fell 0.95%.

"With a big red candle, the index is comfortably back in the range of 23,960-24,400," said Aditya Gaggar, director of Progressive Shares. "We advise to wait until the Index provides a clear picture by violating either range."

Shares of HDFC Bank Ltd., State Bank Of India, Bajaj Finance Ltd., Kotak Mahindra Bank Ltd., and Tata Motors Ltd. dragged the Nifty. While those of Titan Co. Ltd., Reliance Industries Ltd., Apollo Hospitals Enterprises Ltd., HCL Technologies Ltd., and Dr. Reddy's Laboratories Ltd. minimised the losses.

All sectoral indices ended lower except Nifty IT, which ended flat.

Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices settled 0.94% and 1.14% lower, respectively.

On BSE, 19 sectoral indices out of 20 ended lower and one advanced. The BSE Commodities declined the most, while BSE Consumer durables emerged as the best performing sector.

Market breadth was skewed in favour of sellers. Around 2,657 stocks declined, 1,282 stocks rose, and 87 stocks remained unchanged on BSE.

• Nifty, Sensex close lower in the second session; log worst session since August 5

• Nifty ends 0.85% or 208 points lower at 24139.00

• Sensex ends 0.87% or 692.89 points lower at 78956.03

• Broader indices also ended lower; Nifty Midcap 100 ended 0.8% down and Nifty Smallcap 250 fell 1.23%

• All sectoral indices closed lower except Nifty IT, which ended flat; Nifty Financial Services was the top loser

• Titan Company and Apollo Hospitals were top Nifty gainers

• HDFC Bank and BPCL were top losers among Nifty stocks

• Net profit up 32.7% at Rs 308 crore vs Rs 232 crore

• Revenue up 11.8% at Rs 1,120 crore vs Rs 1,002 crore

• EBITDA up 9.3% at Rs 375 crore vs Rs 343 crore

• Margin at 33.5% vs 34.2%

• Net profit up 2.9% at Rs 159 crore vs Rs 154 crore

• Revenue up 4.9% at Rs 1,206 crore vs Rs 1,150 crore

• EBITDA down 6.9% at Rs 194 crore vs Rs 208 crore

• Margin at 16.1% vs 18.1%