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The stock market declined sharply on Tuesday amid reports of increasing COVID-19 cases in Southeast Asian countries like Singapore and Hong Kong. Nifty fell for the third consecutive
session, shedding 261 points (1.05 per cent) to close at 24,683, while the BSE Sensex dropped 873 points (1.06 per cent) to 81,186. Advertisement The selloff was broad-based as the BSE
Midcap and Smallcap indices closed with losses of 1.65 per cent and 0.96 per cent, respectively. The cumulative market capitalisation of BSE-listed firms dropped to nearly Rs 438 lakh crore
from nearly Rs 444 lakh crore in the previous session. Advertisement Among the sectors, almost all ended with losses, with the Nifty Auto falling over 2 per cent while FMCG, Media, Pharma,
Private Bank, and Realty indices declined over a per cent each. Nifty Bank fell 1 per cent, while the Financial Services index crashed 1.2 per cent. On Nifty50, shares of Coal India were up
1.55 per cent, Tata Steel up by 1.28 per cent, and Hindalco Industries were up by 1.16 per cent, ending as the top gainers. Further, there were as many as 42 stocks that ended in the red,
including Eternal (4.21 per cent), Hero MotoCorp (3.16 per cent) and Bajaj Auto (2.84 per cent). Further, 82 stocks hit their 52-week highs in intraday trade on the BSE with the key ones
including Shree Cement, Dalmia Bharat and APL Apollo Tubes among others. On the other hand, Aether Industries and Jai Balaji Industries were among the 29 stocks that hit their 52-week lows
in intraday trade on the BSE. Coal India rose 2.88 per cent, emerging among the top performers on the Nifty 50 to close with a gain of 1.55 per cent. Hindalco and Tata Steel managed to
outperform with Hindalco gaining 1.8 per cent and Tata Steel advancing 1.2 per cent. In the auto stocks, Hero MotoCorp, Maruti Suzuki, and Bajaj Auto fell on profit-taking. Shares of
Mahindra & Mahindra declined 2 per cent with trading volumes crossing 720,000 shares, significantly above average. The Indian Rupee snapped its two-day streak, falling 24 paise against
the dollar to settle at 85.63. Investors opted for profit-booking and adopted a cautious stance amid a lack of major positive triggers and prevailing uncertainty over US fiscal stability.
Japanese bond sell-off has elevated borrowing costs, contributing to global market uncertainty and dampening risk appetite. Advertisement
