New Delhi: The equity index fell for the third consecutive session on Tuesday with BSE Sensex benchmarks falling more than 350 points, dragged by metal, banking and financial stocks amid weak global cues.
The 30-share BSE index fell 355 points or 0.68 percent to close at 52,199; While the wider NSE settled 120 points or 0.76 percent lower at 15,632.
Indusind Bank, Tata Steel, NTPC, Bharti Airtel, HCL Tech and ICICI Bank are the top losers in the sensex package falling as much as 3.4 percent.
While Asia Cat, Ultra Cemo, Hul, Maruti and TC are the main enhancer up to 5.59 percent.
On the NSE platform, except for Nifty FMCG, all other sub-indices witnessed losses with nifty, metal, Bank PSU and private banks fell up to 2.58 percent.
According to experts, the income of mixed companies and global sales triggered by a surge in Delta variant which weighed on investor sentiment.
725 points cut in Dow on Monday – the worst in 2021 – is a reflection of risk-off on the market globally, V K Vijayakumar, head of investment strategist at Geojit Financial Services to the PTI news agency.
“Various reasons associated with this correction: Covid cases that increase in the US and UK are due to Delta variants, inflation concerns, and concerns about the growth that comes under consensus expectations.” Maybe all this.
The fact is that at a high assessment when investors sit on a large profit, fear can trigger orders and correct profits, “he said.
Asian shares were also subdued when the Delta variant spread quickly from Coronavirus raised fears that further locking could rise.
Global economic recovery .
Meanwhile, foreign institutional investors (FIIs) were net sellers in the stock market because they lower shares worth Rs 2198.71 crore on Monday, according to provisional exchange of data.
(with inputs from agencies)