The Bombay Stock Exchange Sensex dropped 49 points to close at 28,999.56 on Tuesday. After fluctuating, the Nifty50 fell 17 points to settle at 8,947 owing to profit booking. On the National Stock Exchange, as many as 42 stocks registered a fresh 52-week high, while 13 touched a new 52-week low during intra-day trade.
Speculation over the upcoming Uttar Pradesh election results and United States Federal Reserve interest rate is likely to impact the bourses’ performance over the week.
Tata Steel was among the major losers on the Sensex followed by Infosys and Tata Consultancy Services. Axis Bank and Federal Bank fared badly during the day’s trading too. The oil and gas, consumer durable, power, and capital goods stocks led Tuesday’s trade. The automobile, pharmaceutical and banking stocks underwent immense selling pressure, NDTV reported.
Investors attributed the fluctuations to reports about United States President Donald Trump’s new executive order and the current diplomatic tensions in North Korea, reported Business Standard. According to brokers, a buying spree, good foreign fund inflows and a mixed trend in Asian markets were deciding factors.
The rupee traded at 66.68 against the US dollar. Other Asian currencies registered mixed trading. While South Korea’s won was up 0.53%, and Taiwan’s dollar rose 0.18%, Malaysia’s ringgit was down 0.11% and China’s renminbi fell 0.1%.