Despite opening on a positive note, Indian shares ended lower on Tuesday, losing ground for a second straight session, as concerns about global growth and interest rate outlook rendered the mood a bit bearish once again.
The benchmark BSE Sensex, which climbed to 60,113.47 in early trades, gaining more than 200 points in the process, ended the session with a loss of 183.74 points or 0.31% at 59,727.01, nearly 150 points off the day’s low.
The broader Nifty50 of the National Stock Exchange settled lower by 46.70 points or 0.26% at 17,660.15, after scaling a low of 17,610.20 and a high of 17,766.60 intraday.
Pharmaceuticals and realty stocks found support. A few stocks from technology and PSU banking sector also climbed higher.
Lupin surged more than 6%. Biocon, Aurobindo Pharma, Glenmark Pharmaceuticals and Divi’s Laboratories advanced 3 to 3.6%. Zydus Life, Granules, Cipla, Ipca Laboratories, Dr Reddy’s Laboratories and Laurus Labs also posted strong gains.
Sobha, up 7.3%, was the top gainer in the Realty index. Godrej Properties, Indiabulls Real Estate and DLF gained 1.6 to 2.1%.
Technology stocks Mphasis, HCL Technologies and Wipro gained 2.7%, 2.3% and 1.5%, respectively. Infosys and TCS ended flat.
Indian Bank rallied more than 3%. Bandhan Bank, IDFC First Bank and IndusInd Bank also ended sharply higher.
Power Grid Corporation drifted down 2.6%. UltraTech Cement ended lower by 1.85%. Reliance Industries and Titan both shed about 1.1%.
Adani Enterprises, Apollo Hospitals Enterprises, Adani Ports, Bajaj Auto and Britannia Industries also ended notably lower.
Quick Heal Technologies, TV 18 Broadcast, Network18 Media & Investments and Hathway Cable ended weak on disappointing results.
Just Dial gained about 2.5% after reporting a stronger than expected standalone net profit of Rs 83.8 crore for the fourth quarter of FY 2022-23.
The market breadth was slightly positive. On BSE, 1,904 stocks closed in positive territory and 1,1631 stocks finished lower, whie 118 stocks ended flat.
Market Analysis
Sensex, Nifty End Lower For 2nd Straight Day
2023-04-18 11:01:31
