The benchmark BSE Sensex closed 240 points lower on Tuesday as investor sentiment weakened following Indian air strikes on terror camps across the Line of Control, PTI reported. Nifty 50 closed 44.80 points lower at 10835.30.
After cracking nearly 500 points, the Sensex pared some losses but ended 239.67 points lower at 35,973.71. It hit a low of 35,714.16 and a high of 36,172.52.
The top gainers on Sensex were Tata Motors, Coal India, TCS, Axis Bank and Yes Bank. Stocks of HCL Technologies, HDFC, ICICI Bank, Infosys and State Bank of India performed poorly.
On the Nifty, the biggest gainers were Zee Entertainment, Tata Motors, Indian Oil Corporation, Coal India and TCS. The biggest losers were Indiabulls Housing Finance, HCL Technologies, HDFC, ICICI Bank and Infosys.
“Indian indices traded lower mainly due to two factors first, the indications of weakness from all major Asian markets since their opening; and second, the strike carried out by the Indian Air Force against terrorist camps located inside Pakistan,” said Joseph Thomas, head research, Emkay Wealth Management.
The rupee depreciated 38 paise to 71.35 against the US dollar in early trade and recovered partially to 71.06 in late afternoon trade. It was trading 12 paise lower at 71.09 over its previous close of 70.97.
Asian markets like Shanghai Composite Index declined 0.67%, Hong Kong’s Hang Seng fell 0.61% and Japan’s Nikkei shed 0.37%.
The US Dow Jones Industrial Average ended 0.23% higher on Monday.