Indian shares followed global peers lower on Tuesday, though markets ended off their day’s lows on the back of buying in PSU stocks.
Cues from Asia and Europe were tepid as a climb in U.S. bond yields, rising crude oil prices and concerns over the looming debt crisis of China’s realty giant Evergrande triggered a flight from risky assets to safe-haven assets.
Worries about a Fed taper beginning November and weak industrial profits data from China also added cot concerns over the pace of global growth.
The benchmark 30-share BSE Sensex crashed over 1.000 points before recovering some losses to end the session down 410.28 points, or 0.68 percent, at 59,667.60.
The broader NSE Nifty index ended the session down 106.50 points, or 0.60 percent, at 17,748.60, with financials and IT stocks leading losses.
Bajaj FinServ, Divis Laboratories, Bajaj Finance, Tech Mahindra and Bharti Airtel fell 3-4 percent in the Nifty pack, while IOC, Sun Pharma, NTPC, Coal India and Power Grid Corp all rose about 4 percent.
BHEL soared 6.9 percent after it won an order from Goa Shipyard for warship gun mount.
Sensex, Nifty End Off Day’s Lows
2021-09-28 10:45:39
