Sensex, Nifty fall for second day running in 2024 on profit taking in bank and IT stocks
Jan 2, 2024, 16:28 IST
Benchmark Sensex declined by 379 points on Tuesday due to profit-taking in bank and IT shares after recent sharp gains and fresh foreign fund outflows. The 30-share BSE Sensex fell by 379.46 points or 0.53% to settle at 71,892.48. During the day, it tumbled 658.2 points or 0.91% to a low of 71,613.74.
The broader Nifty declined by 76.10 points or 0.35% to close at 21,665.80. As many as 31 Nifty shares declined while 19 advanced.
Among the Sensex firms, Kotak Mahindra Bank, UltraTech Cement, Mahindra & Mahindra, Larsen & Toubro, ICICI Bank, IndusInd Bank, Wipro and Hindustan Unilever were the major laggards.
Sun Pharma, Bajaj Finance, Bharti Airtel, Reliance Industries, Bajaj Finserv and Titan were among the winners.
The market extended yesterday's last hour's sell-off, taking negative cues from Asian peers due to weak Chinese manufacturing data and mounting tensions in the Red Sea, which has the potential to disrupt global trade and crude supplies," Vinod Nair, Head of Research at Geojit Financial Services said.
"Ahead of the impending results season, investors are adopting a profit booking strategy. Auto stocks declined on below-expected volume numbers, while pharma stocks were the standout due to catch-up in the US economy," Nair added.
In Asian markets, Shanghai and Hong Kong settled lower while Seoul ended in the green. European markets were mostly trading in positive territory.
Asian, European and US markets were closed on Monday for the New Year.
Global oil benchmark Brent crude jumped 2.05% to USD 78.58 a barrel.
Foreign institutional investors (FIIs) offloaded equities worth Rs 855.80 crore on Monday, according to exchange data.
In 2023, the BSE benchmark jumped 11,399.52 points or 18.73%, and the Nifty climbed 3,626.1 points or 20%.
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The broader Nifty declined by 76.10 points or 0.35% to close at 21,665.80. As many as 31 Nifty shares declined while 19 advanced.
Among the Sensex firms, Kotak Mahindra Bank, UltraTech Cement, Mahindra & Mahindra, Larsen & Toubro, ICICI Bank, IndusInd Bank, Wipro and Hindustan Unilever were the major laggards.
Sun Pharma, Bajaj Finance, Bharti Airtel, Reliance Industries, Bajaj Finserv and Titan were among the winners.
The market extended yesterday's last hour's sell-off, taking negative cues from Asian peers due to weak Chinese manufacturing data and mounting tensions in the Red Sea, which has the potential to disrupt global trade and crude supplies," Vinod Nair, Head of Research at Geojit Financial Services said.
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In Asian markets, Shanghai and Hong Kong settled lower while Seoul ended in the green. European markets were mostly trading in positive territory.
Asian, European and US markets were closed on Monday for the New Year.
Global oil benchmark Brent crude jumped 2.05% to USD 78.58 a barrel.
Foreign institutional investors (FIIs) offloaded equities worth Rs 855.80 crore on Monday, according to exchange data.
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The BSE gauge eked out a modest gain of 31.68 points or 0.04% to settle at 72,271.94 after a muted beginning on Monday. The Nifty went up by 10.50 points or 0.05% to 21,741.90. In 2023, the BSE benchmark jumped 11,399.52 points or 18.73%, and the Nifty climbed 3,626.1 points or 20%.