Sensex snaps 3-day bull run, dips 87 pts; Airtel, TCS shed 5%, PSBs soar

CLOSING BELL

Inventory market highlights: After staying weak for the higher a part of the day, benchmark indices recouped most of their losses to the flat line on Monday. The indices, nevertheless, ended with a unfavourable bias, thus snapping their 3-day profitable run.

The S&P BSE Sensex, which hit a low of 54,090.5 within the intra-day commerce, closed at 54,395, down 87 factors or 0.16 per cent. On the NSE, the Nifty50 shut store 5 factors, or 0.03 per cent, decrease at 16,216. The index hit an intra-day low of 16,115.5.

Eicher Motors, ONGC, Dr Reddy’s Labs, Tata Metal, M&M, Coal India, and Adani Ports have been the highest Nifty50 gainers, rising practically 4 per cent. On the flipside, promoting in Bharti Airtel (down 5 per cent), TCS (down 4.7 per cent), HCL Tech, Infosys, BPCL, and Tech M capped the positive factors. These shares fell between 2 per cent and 5 per cent.

In the meantime, the BSE SmallCap index outperformed the frontline indices handsomely because it added over 1 per cent on the BSE. Its MidCap counterpart, alternatively, gained 0.6 per cent.

Sectorally, besides the Nifty IT index, which closed 3 per cent decrease, all different indices eked out positive factors. The Nifty PSU Financial institution index was the highest gainer, up 2 per cent, amid reviews that the Centre is searching for to take away the ten per cent shareholding cap for people in public sector banks (PSBs) — a transfer that can allow non-public fairness (PE) companies to select up stakes in PSBs on the block for privatisation.

Adani Group in focus