Indian shares gave up early gains to end lower on Tuesday, with IT companies and HDFC underperforming.
Markets opened on a positive note after the government said it will widen vaccinations to everyone above 18 in the next stage beginning May 1.
Key benchmark indexes failed to hold onto early gains as stocks fell in Asia and Europe amid a rebound in U.S. Treasury yields.
The 30-share BSE Sensex ended the session down 243.62 points, or 0.51 percent, at 47,705.80, while the broader Nifty index settled at 14,296.40, down 63.05 points, or 0.44 percent, from its previous close.
Among the laggards, Shree Cement, Grasim, HDFC, HCL Technologies and UltraTech fell 3-5 percent.
Healthcare stocks were in focus, with Dr Reddy’s Laboratories climbing 3.6 percent after the company said it is going to roll out the Sputnik V COVID-19 vaccine by May-end or early June.
Tata Consumer Products, Bajaj Finance, HDFC Life and Bajaj FinServ rallied 2-3 percent.
Snowman Logistics surged as much as 9.5 percent after Crisil Ratings reaffirmed ratings on the company’s loan facilities worth Rs 129.75 crore.
ICICI Prudential Life Insurance jumped 5.5 percent after the company posted a 23 percent year-on-year (YoY) growth in new business premium during the January-March quarter.
Sensex, Nifty Reverse Early Gains
2021-04-20 10:52:29
