Closing Bell: Indian market ends lower, Nifty falls below 16500

Closing Bell: Indian market ends lower, Nifty falls below 16500

Indian Market
by 5paisa Research Team Last Updated: 2022-07-26T16:32:22+05:30

Domestic equity bourses fell in Tuesday's trade incurring losses in financial, IT and FMCG stocks. Global markets also traded in a mixed manner ahead of the key rate decision by the Fed.

Indian equity market on Tuesday extended its fall for the second straight session, pulled down by technology, consumer, automobile and pharma shares. Participants also awaited the quantum of another sharp US interest rate hike. Previously, the US central bank had raised its benchmark rate by 50 basis points (bps) and is likely to hike it further by 75 bps in July's policy outcome, which is due on Wednesday. In global markets, Asian stocks mostly traded higher, while US stock futures pointed to a lower start for Wall Street. Owing to these developments, the Indian equity indices finished lower for the second straight session.

At the closing bell on July 26, the Sensex was down 497.73 points or 0.89% at 55,268.49, and the Nifty was down 147.20 points or 0.89% at 16,483.80. On the market breadth, around 1119 shares have advanced, 2128 shares declined, and 138 shares are unchanged.

Top Nifty losers of the day were Infosys, HUL, Axis Bank, Dr Reddy’s Laboratories and Bajaj Auto, while gainers included Bajaj Finserv, JSW Steel, Grasim Industries, Bharti Airtel and Coal India.

Sector-wise all the indices ended in the red with metal, IT, pharma, auto, bank, capital goods, realty and FMCG indices losing 1-2%. In the broader markets, the BSE midcap and smallcap indices fell 1% each. One of the top laggards, Infosys was the top Nifty loser as the stock lost 3.51% to Rs 1,450.85. Also in the news, shares of food delivery company Zomato extended their loss falling by 12.41%, at Rs 41.65, after a one-year lock-in period for promoters, employees and other investors expired.

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