Market erases all gains, Nifty falls below 23,300
At close, the Sensex was down 422.59 points or 0.54% at 77,155.79, while the Nifty fell 168.60 points or 0.72% at 23,349.90.
Nifty on Tuesday closed the day with modest gain of 39 points following fresh buying in realty, metal, energy and IT sectors on the back of higher global cues.
Investors took a cautious stance amid current geopolitical tensions, however, improving bilateral relationship between India and China gave them some relief. Overseas, European stocks were trading higher, while Asian stocks were mixed on lingering tensions between the US and North Korea.
US financial markets remained closed yesterday on account of Labour Day. The Nifty opened higher at 9,933.25 and moved in a range of 9,963.10 and 9,901.05 before ending at 9,952.20, a modest rise of 39.35 points, or 0.40 pct from its last close. It saw an intra-day movement of about 62.05 points.
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On Sectoral front, Nifty Realty rose 1.41 per cent, Metal 0.86 per cent, Energy 0.85 per cent, IT 0.54 per cent, Pvt Bank 0.50 per cent, Bank 0.38 per cent, Finance Service 0.35 per cent, Auto 0.31 per cent, Media 0.31 per cent and FMCG 0.22 per cent.While, Pharma and Infra fell by 0.36 per cent and 0.20 per cent, respectively.
Gainers included Coal India, TechM, UltraCemCo, Ambuja Cement, ACC, Adaniports, Tata Motors, Bpcl and Bank Of Baroda.However, BhartiAirtel fell followed by Sunpharma, InfraTel, Bosch Ltd, Powergrid and Lupin. Broader markets rebounded sharply with the Nifty Midcap and Smallcap up 1.03 per cent and 1.10 per cent, respectively. The Nifty Smallcap index notched a fresh closing high, while the Midcap index is marginally below its all-time high.
The market breadth, indicating the overall health of the market, turned positive. A total of 1,149 scrips advanced, 529 declined, while 82 remained unchanged.
As many as 129 securities hit their price bands.Turnover in the cash segment fell to Rs 23,777.21 crore from Rs 24,830.67 crore yesterday.A total of 11,537.01 lakh shares changed hands in 8,099,824 trades. The market capitalisation of listed firms on the NSE stood at Rs 13,211,611.45 crore.
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