Sensex, Nifty was down for the fourth Day; Auto Shares Worst Hit

On tuesday, for the straight fourth day in a row domestic stock markets fell down by selling low pressure across sectors excluding IT and pharma shares. Earlier in the day, benchmark index entated a gap-down opening the Sensex drop over 500 points and Nifty 50 index touched an intraday low of 11,084.65 as rising global COVID-19 cases and concerns over fresh lockdowns in Europe weighed on investor sentiment across the globe.

The Sensex ended by 300 points or 0.79 per cent lower at 37,734 whereas Nifty 50 index was down at 97 points or 0.86 per cent and close at 11,154. On the other hand, IT and Pharma shares witnessed high interest.

The top sensex were Reliance Industries, HDFC, HDFC Bank, Axis Bank, Maruti Suzuki, Larsen & Toubro and Kotak Mahindra Bank. They collectively contributed over 200 points towards decline on the Sensex.

Mid and small cap shares also witnessed selling pressure as Nifty Midcap 100 and Nifty Smallcap 100 indexes fell around 1.5 per cent.

Zee Entertainment was top Nifty loser, the stock closed over 6 per cent lower at ₹ 197. Bharti Infratel, GAIL India, Adani Ports, Maruti Suzuki, Tata Motors, Axis Bank, IndusInd Bank, ONGC, Larsen & Toubro and BPCL also fell between 2-4.5 per cent.

On the flipside, HCL Technologies, TCS, Tech Mahindra, Grasim industries, Cipla, Dr Reddy’s Labs, Bharti Airtel and State Bank of India were among the gainers.

Nine of 11 sector gauges assembled by the National Stock Exchange ended less led by the Nifty Media index’s 2.6 per cent downfall. Nifty Bank, PSU Bank, Private Bank, Realty, Auto and Financial Services indices also fell over a per cent each.