Sensex, Nifty50 fall for the second consecutive day on selling in energy, FMCG and financial services stocks

• Sensex and Nifty ended in the red on Tuesday, making it the second consecutive day of decline amid mixed cues in Asian markets.
  
• Energy, FMCG and financial services stocks declined, dragging both the benchmark indices down.
  
• Both Sensex and Nifty50 ended 0.3% lower – while Sensex fell 184 points to close at 59,727, Nifty50 fell 47 points to 17,660.
  

Sensex and Nifty ended in the red on Tuesday, making it the second consecutive day of decline amid mixed cues in Asian markets. Energy, FMCG and financial services stocks declined, dragging both the benchmark indices down.

Both Sensex and Nifty50 ended 0.3% lower – while Sensex fell 184 points to close at 59,727, Nifty50 fell 47 points to 17,660.

Top gainers and losers on Nifty50

Top gainers	Change	Top losers	Change
Divi’s Laboratories	3.41%	Power Grid Corporation	-2.68%
HCL Tech	2.08%	UltraTech Cement	-1.90%
Nestle India	2.06%	Adani Enterprises	-1.48%
IndusInd Bank	2.01%	Reliance Industries	-1.14%
Cipla	1.96%	Apollo Hospitals	-1.10%

Source: NSE, as on April 18, 2023

Earlier on Monday, both the benchmark indices fell amidst a sell-off in IT stocks post the earnings and commentary of IT bellwethers TCS and Infosys. While Sensex fell 0.9%, Nifty50 fell 0.7%.

Top sectoral gainers	Change	Top sectoral losers	Change
Pharma	1.64%	Consumer durables	-0.36%
Healthcare	1.23%	FMCG	-0.33%
Realty	1.04%	Media	-0.33%
PSU bank	0.76%	Financial services	-0.33%
IT	0.59%	Oil & gas	-0.27%

Source: NSE, as on April 18, 2023

The rout in IT stocks eroded market capitalization worth over ₹1 lakh crore in the sector, with Infosys alone accounting for over ₹54,000 crore.

Gold prices edged up on Tuesday to ₹60,437 per 10 grams, while Brent crude oil edged lower to $84.6 per barrel.

The rupee depreciated 3 paise to close at 82.04 against the US dollar on Tuesday, tracking negative sentiments in the domestic equities market. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.37% to 101.73.

Asian markets mixed

Market sentiments in Asia were mixed on Tuesday, with Hang Seng declining the most at 0.64%, followed by Taiwan Weighted which fell 0.59% and KOSPI which was down 0.19%. Shanghai Composite edged 0.23% up while Nikkei 225 gained 0.5%.

Markets in the US closed in the green on Monday, with Dow Jones and S&P 500 gaining 0.3%, while the tech-heavy Nasdaq gained 0.28%.

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