Indian shares fluctuated before ending lower on Tuesday amid mixed global cues and in the absence any fresh triggers after recent strong gains. IT stocks bucked the weak trend, helping limit losses in the broader market.
The benchmark S&P BSE Sensex ended the session down 68.36 points, or 0.10 percent, at 66,459.31 while the broader NSE Nifty index slipped 20.25 points, or 0.1 percent, to close at 19,733.55.
Power Grid Corp led losses to close 5.2 percent lower after it proposed raising funds of up to Rs 12,000 crore in FY 2025 from the domestic market.
Bajaj FinServ, Adani Ports, Apollo Hospitals Enterprise and Hero MotoCorp fell 2-3 percent while IT stocks such as LTIMindTree, HCL Technologies and Tech Mahindra all rose about 2 percent on expectations that major central banks are nearing the end of their tightening cycles.
Coal India jumped 5.2 percent after posting a 13.4 percent year-on-year rise in coal production at 53.6 million tones (MT) in July 2023.
NTPC rallied 3 percent after announcing the commercial operation of the second unit of 660 MW capacity at the Barh Super Thermal Power Station.
Global cues were mixed as weak PMI data from Asia and Europe revived worries about global growth.
Closer home, India’s manufacturing activity logged a further strong expansion in July amid on-going buoyant demand, the results of the purchasing managers’ survey from S&P Global showed.
The manufacturing Purchasing Managers’ Index, or PMI, dropped marginally to 57.7 in July from 57.8 in June.
Sensex, Nifty End Choppy Session Marginally Lower
2023-08-01 10:33:04
