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.
The stock market was in green on Monday amid buying seen across the sectors, barring metal and media. Nifty managed tto cross 25,150, intraday.
At close, the Sensex was up 591.69 points or 0.73% at 81,973.05, and the Nifty was up 163.70 points or 0.66% at 25,128.
On Nifty, Wipro, Tech Mahindra, HDFC Life, L&T, HDFC Bank were among the top gainers. On the losing side were ONGC, Maruti Suzuki, Tata Steel, Bajaj Finance and Adani Enterprises.
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As many as 249 stocks, including HCL Tech, Tech Mahindra, Persistent Systems, Trent and Divi’s Labs, hit their fresh one-year highs in intraday trade on BSE.
Tech Mahindra, HDFC Bank, Larsen and Toubro, ITC and IndusInd Bank ended as the top gainers. Shares of Maruti Suzuki, Tata Steel, Bajaj Finance, Axis Bank and UltraTech Cement ended as the top losers in the index.
BSE Midcap and Smallcap indices closed 0.28% and 0.06% higher, respectively. The overall market capitalisation of the BSE-listed stocks rose to nearly Rs 463.6 lakh crore from Rs 462.3 lakh crore in the previous session.
Among the sectors, except metal and media, all other sectoral indices ended in the green with Information Technology, Bank, Realty indices up 1% each. Realty being the top performer, followed by IT and BankNifty.
Bank Nifty broke out of a three day consolidation on the upside and is now inching towards 52500.
Shares of Hindustan Construction Company rose over 3.5% after the company received an order worth Rs 1.031.6 crore from the Maharashtra State Road Development Corporation.
Avenue Supermarts, parent of DMart, cracked over 8% as its earnings show for the quarter ended September left the Street disappointed.
Bajaj Housing Finance dropped around 6% as its one-month lock-in period expired for the anchor investors.
Notably, a fall in crude oil prices influenced market sentiment as the brent crude futures fell over 2% to $77.02 per barrel.
US West Texas Intermediate crude futures also fell 2.7% to $73.52 per barrel.
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