Sensex Falls 379.46 Points To Settle At 71,892.48; Nifty Declines 76.10 Points To 21,665.80 | Markets News

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New Delhi: Benchmark Sensex declined by 379 points on Tuesday due to profit-taking in bank and IT shares after recent sharp gains and fresh foreign fund outflows. The 30-share BSE Sensex fell by 379.46 points or 0.53 percent to settle at 71,892.48. During the day, it tumbled 658.2 points or 0.91 percent to a low of 71,613.74.

The broader Nifty declined by 76.10 points or 0.35 percent to close at 21,665.80. As many as 31 Nifty shares declined while 19 advanced. (Also Read: iPhone 15 Price Cut; Now Available At This Price On Flipkart: Check How Deal Works)

Among the Sensex firms, Kotak Mahindra Bank, UltraTech Cement, Mahindra & Mahindra, Larsen & Toubro, ICICI Bank, IndusInd Bank, Wipro and Hindustan Unilever were the major laggards. (Also Read: Govt Appoints Arvind Panagariya As Chairman Of 16th Finance Commission; Check All About Him)

Sun Pharma, Bajaj Finance, Bharti Airtel, Reliance Industries, Bajaj Finserv, and Titan were among the winners.

The market extended yesterday’s last hour’s sell-off, taking negative cues from Asian peers due to weak Chinese manufacturing data and mounting tensions in the Red Sea, which has the potential to disrupt global trade and crude supplies,” Vinod Nair, Head of Research at Geojit Financial Services said.

“Ahead of the impending results season, investors are adopting a profit booking strategy. Auto stocks declined on below-expected volume numbers, while pharma stocks were the standout due to catch-up in the US economy,” Nair added.

In Asian markets, Shanghai and Hong Kong settled lower while Seoul ended in the green. European markets were mostly trading in positive territory. Asian, European, and US markets were closed on Monday for the New Year.

Global oil benchmark Brent crude jumped 2.05 percent to USD 78.58 a barrel. Foreign institutional investors (FIIs) offloaded equities worth Rs 855.80 crore on Monday, according to exchange data.

The BSE gauge eked out a modest gain of 31.68 points or 0.04 percent to settle at 72,271.94 after a muted beginning on Monday. The Nifty went up by 10.50 points or 0.05 percent to 21,741.90.

In 2023, the BSE benchmark jumped 11,399.52 points or 18.73 percent, and the Nifty climbed 3,626.1 points or 20 percent.

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