India’s stock benchmarks ended down for the second day in a row amid a decline in global equities.
The indices, after a gap-down opening, recovered some of its losses by late trade, aided by gains in information technology stocks ahead of the release of Tata Consultancy Services Ltd.’s second-quarter results post-market hours.
The Sensex ended 0.34% or 200 points lower at 57,991.11 after losing over 825 points during morning trade on the BSE. The Nifty 50 also declined by similar magnitude close at 17,241 on the NSE. Among Nifty 50 constituents, 16 stocks rose, while 35 fell.
Tata Motors Ltd., Tata Consumer Products Ltd., Hero MotoCorp Ltd., Asian Paints Ltd., and ITC Ltd. fell the most.
Axis Bank Ltd., Tata Consultancy Services, HDFC Life Insurance Company Ltd., Eicher Motors Ltd. and Maruti Suzuki India Ltd. gained the most among index constituents.
The broader indices underperformed their larger peers with the mid cap gauge losing 0.9% and the small cap measure falling 0.6%. Barring information technology and teck indices, all the other 17 sectoral gauges compiled by BSE Ltd. declined with consumer durables, power, realty, utilities and FMCG losing over 1%.
The market breadth is skewed in the favour of bears. About 1,455 stocks rose, 2,106 fell and 168 remained unchanged.