Closing Bell: Indian market extends losses for the third day, Nifty falls below 16250

Closing Bell: Indian market extends losses for the third day, Nifty falls below 16250

by 5paisa Research Team Last Updated: 2022-05-10T16:48:21+05:30

Domestic equity bourses Sensex and Nifty after surging in intraday trade, made their way back into the red in a choppy session on Tuesday.

Indian equity market extended its fall for the third straight day amid volatile trade. The headline indices swung between gains and losses throughout the day before settling in the red.

Participants remained tensed across the global markets due to aggressive interest rate hikes from central banks and economic slowdown worries. Overnight, the US stock market also took a hit, as S&P 500 and Nasdaq fell heavily. Owing to these developments, Indian indices ended on a negative note.

At the closing bell on May 10, the Sensex was down 105.82 points or 0.19% at 54,364.85, and the Nifty was down 61.90 points or 0.38% at 16,240. On the market breadth, 848 shares have advanced, 2428 shares declined, and 132 shares are unchanged.

Top Nifty losers of the day include Coal India, Tata Steel, ONGC, Hindalco Industries and JSW Steel, while top gainers were HUL, Eicher Motors, Asian Paints, UltraTech Cement and IndusInd Bank. In the top laggard, Coal India was the top loser as the stock lost 7.54% to Rs 169.25.

On the sectoral basis, metal, power, oil & gas, healthcare, IT and realty indices were down 1-5%. On the other hand, bank index added 0.5%. In the broad markets, the BSE midcap and smallcap indices fell 2% each.

In the currency market, Indian rupee ended 14 paise higher at 77.32 per dollar on Tuesday against yesterday's close of 77.46. Venus Pipes and Tubes IPO opens on Wednesday. The price band for the offer has been fixed at Rs 310-326 per equity share of face value Rs 10 each.

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