Indian equity benchmarks NSE Nifty50 and BSE Sensex ended lower on Tuesday, continuing a two-day losing streak for the headline indices. The losses in the headline indices were primarily dragged by IT shares, also pressurised by negative cues across global markets.

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NSE

The Sensex fell 208 points for the day to end at 62,626. The Nifty50 moved within a range of 18,577.9-18,654.9 in intraday trade before ending at 18,642.8. Broad indices mirrored the primary market. Nifty Midcap 100 and the Nifty Smallcap 100 ended 0.5 percent lower and 0.2 percent lower respectively.

A total of 29 stocks in the Nifty50 basket finished in the red, with Infosys, ICICI Bank, TCS, SBI and Tata Steel being the top losers.

SAIL, Hindustan Aeronautics, Container Corp, Conforge and Page Industries were top Nifty Midcap losers.

On the other hand, Adani Enterprises, Reliance, HUL, Bajaj Finance and Nestle were the top nifty gainers.

"Bears kept pushing domestic indices lower amid unfavourable global cues, with significant selling in metals and IT stocks. The mood was dampened by renewed concerns over policy tightening by the Fed in response to strong economic data out of the US," said Vinod Nair, Head of Research at Geojit Financial Services.

Nair added: "However, while easing COVID curbs in China benefited the demand outlook, fresh sanctions on Russian oil further added volatility to global oil markets. Investors at home await the RBI policy meet tomorrow, which is expected to slow the pace of rate hikes, in light of easing food prices"

IT stocks continued the losing momentum ending 448.5 points or 1.5 percent lower. Infosys and LTIMindtree dragged the sectoral index lower. Financial and IT stocks were the biggest losers, while FMCG shares were the top gainers.

Overall market breadth favoured the bears at the close, as 1,596 stocks rose while 1,899 fell on BSE.

Rupee slipped below the 82 mark vs dollar in Tuesday's trade, ending at 82.62 against the greenback.

Global markets

European markets traded lower on Tuesday amid weakness in global markets. Stoxx 600 index was last trading 0.7 percent lower.

S&P 500 futures were down 1.8 percent, suggesting a negative start ahead on Wall Street.

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First Published:Dec 6, 2022 4:03 PM IST