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Closing Bell: Markets close negative; Sensex down 400 points, Nifty below 18000 – auto stocks shine
The BSE Sensex slipped 396 points or 0.65 per cent to 60322, while the Nifty50 fell over 110 points or 0.61 per cent to the 17999 levels at the market close.
Trading in a range-bound manner, the Indian markets on Tuesday slipped at the close, as the Sensex fell around 400 points and the Nifty below the 18000-mark. The decline was mainly led by the banking and financial stocks, along with pharma and metals at the markets close today.
The BSE Sensex slipped 396 points or 0.65 per cent to 60322, while the Nifty50 fell over 110 points or 0.61 per cent to the 17999 levels at the market close. While the broader markets ended mixed at the close, as mid-cap give up all gains, slipping 0.27 per cent and small-cap surged 0.5 per cent at close.
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As many as 12 stocks in the green, while 38 in the red on the Nifty50 at the market close. Index heavyweight Reliance Industries, along with Shree Cement, dragged the market most by over 3 per cent each at the market close.
While other stocks such as Hindalco, Tata Steel, SBI, UltraTech Cement, NTPC and IndusInd Bank each dipping between 2-3 per cent at the market close on Tuesday.
In an otherwise weak market, the auto stocks gained the most, as four out of top Nifty gainers are auto stocks. Maruti surged the most at around 7.5 per cent, followed by M&M up over 3 per cent, Tata Motors and Hero Moto each surged between 2-9 per cent at the market closing today.
Except for auto and IT indices, almost all sectoral indices closed in the red. Nifty Bank along with the pharma index slumped most by over 1 per cent followed by metal, financials, and FMCG sectors. Nifty Auto helped the market most from further fall, as the index gained around 2.5 per cent.
While realty and media, sectors fell marginally dragging the mid-cap index down to eventually end in the red.
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