Indices fail to hold on to gains in see-saw trade; Sensex falls 106 points


The benchmark declined for the third day on Tuesday as overseas investors continued to dump risky assets amid concerns surrounding rising inflation and surge in US bond yields.

The 30-share index finished at 54,365 – down 106 points, or 0.2 per cent. The has posted losses in six of the previous seven sessions. The index is down nearly 5 per cent this month. The Nifty last closed at 16,240 – down 62 points, or 0.4 per cent.

The latest decline comes despite a rebound in other global

off their multi-month lows as investors looked to buy the dip. Indian markets, too, traded positive for the most part of the day. They, however, slipped into red ahead of the closing bell.

Among components, Tata Steel declined the most at nearly 7 per cent, followed by Sun Pharmaceutical Industries (minus 2.74 per cent) and NTPC (minus 2.33 per cent).


Hindustan Unilever and Asian Paints gained the most at 3.24 per cent and 2.5 per cent, respectively.

, are witnessing volatile swings as various factors like rising interest rates, concerns over slower economic growth, and further tightening measures in China continue to weigh on investors. The Nifty has corrected 6.5 per cent in the past seven trading sessions,” said Siddhartha Khemka, head-retail research, Motilal Oswal Financial Services.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.


As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard,

Digital Editor

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *