Sensex Down by Over 180 Points, Nifty Regains 10000 Mark

Sensex Down by Over 180 Points, Nifty Regains 10000 Mark

Sensex Down by Over 180 Points, Nifty Regains 10000 Mark

Banks dragged Nifty down with the index testing the 10,000 mark.

The Tata Steel stock was trading 3.4 percent higher at Rs 620 on the Bombay Stock Exchange (BSE) at around 10.40 am while Hindalco and Vedanta were up 3.82 percent (at Rs 236) and 3.56 percent (at Rs 298), respectively, on the National Stock Exchange (NSE).

The Sensex has so far touched a high of 32,354.77 points and a low of 31,915.20 points during intra-day trade.

Market breadth was in the favour of losers, with about 2 stocks declining to every 1 stock that advanced.

Volatility continued to plague Dalal Street as benchmark indices languished into the negative territory despite a buoyant outset in Tuesday's session.

The 30-share BSE Sensex lost 259.48 points to close on 32,014.19 for the day while the broader 50-share NSE Nifty ended trading on 9,978.55 down by 78.85 points. SEBI declared 331 suspected shell companies also hit market sentiment. "Negative global cues and weakness in heavyweight stocks like ITC, Reliance Industries and bank stocks contributed to the fall in the Nifty", Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.

The Indian rupee weakened against the USA dollar, tracking mixed Asian currencies market.

In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) invested Rs 1,539.82 crore, while domestic institutional investors (DIIs) purchased stocks worth Rs 798.55 crore.

"Concerns about valuations also weighed on markets".

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