Sensex falls 736 points due to heavy selling in TCS, withdrawal of foreign funds
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Mumbai Major stock indices Sensex and Nifty fell one per cent each on Tuesday amid heavy selling in shares of big companies like Tata Consultancy Services (TCS), Infosys and Reliance Industries, fall in other Asian markets and withdrawal of foreign funds. During this period, the 30-share BSE Sensex fell 736.37 points or 1.01 percent and closed at 72,012.05 points. In the day’s trading, it slipped 815.07 points or 1.12 percent to the level of 71,933.35 points.
Similarly, Nifty of National Stock Exchange fell 238.25 points or 1.08 percent and closed at 21,817.45 points. Analysts said investors are adopting a cautious approach ahead of the US Federal Reserve’s interest rate decision this week. Among Sensex shares, TCS fell by more than four per cent. The company’s promoter Tata Sons has sold about 2.3 crore shares or 0.65 per cent equity stake in a bulk deal. Apart from this, IndusInd Bank, Wipro, Nestle, HCL Technologies, Infosys, Power Grid, ITC, Tech Mahindra, Tata Motors and UltraTech Cement also declined significantly.
On the other hand, shares of Bajaj Finance, Kotak Mahindra Bank, HDFC Bank, Bajaj Finserv, Titan and Bharti Airtel closed in profit. In other Asian markets, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng closed down, while Japan’s Nikkei rose. European markets were marginally higher in afternoon trade. American markets closed sharply on Monday. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 2,051.09 crore on Monday. Global oil benchmark Brent crude fell 0.40 per cent to US$86.54 per barrel.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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