Indian shares ended modestly lower on Tuesday, with IT, pharma and metal stocks declining the most on the back of weak cues from Asia and Europe.

Risk sentiment deteriorated in financial markets, as a broad package of Chinese measures to support the economy underwhelmed investors and Snapchat parent Snap warned of deteriorating macroeconomic trends.

Speculation about bigger ECB rate hikes this year and China’s COVID-19 curbs also stoked fresh concerns about global growth.

The benchmark S&P BSE Sensex fluctuated before ending the session down 236 points, or 0.43 percent, at 54,052.61.

The broader NSE Nifty index dipped 89.55 points, or 0.55 percent, to finish at 16,125.15.

Hindalco, Hindustan Unilever, Grasim, Tech Mahindra and Divis Laboratories tumbled 3-6 percent in the Nifty pack, while HDFC Bank, Power Grid Corp, Kotak Mahindra Bank, HDFC and Dr Reddy’s Laboratories rose 1-2 percent.

Logistics giant Delhivery closed at Rs 536.25 on the NSE as against its issue price of Rs 487 a share.

Similarly, Venus Pipes and Tubes, ended at Rs 354.35 relative to its issue price of Rs 326.

Market Analysis




Sensex, Nifty End Choppy Session Lower

2022-05-24 10:26:53

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