Sensex, Nifty pare early gains, end marginally lower

Rupee apprciates by 7 paise to settle at 75.51 against US dollar

MUMBAI: Market gauges Sensex and Nifty gave up intraday gains to end lower on Tuesday, dragged down by energy and financial stocks, ahead of Prime Minister Narendra Modi’s address to the nation. After rising 272.39 points during the day, the BSE Sensex turned negative and settled 45.72 points, or 0.13 per cent, down at 34,915.80; while the NSE Nifty slipped 10.30 points, or 0.10 per cent, to close at 10,302.10.

In terms of quarterly performance, the Sensex gained 18.5 per cent or 5,447 points during the April-june quarter, while the Nifty rose nearly 20 per cent or 1,704 points. Meanwhile, investors remained cautious keeping in view the impact of the coronavirus pandemic on the economy and the ongoing border standoff with China.

On the Sensex chart, Powergrid was the top laggard, shedding around 2 per cent, followed by Sun Pharma, ITC, ONGC, Bharti Airtel and Reliance Industries.

On the other hand, Maruti,

Nestle India, ICICI Bank and Ultratech Cement were among the gainers.

Sectorally, BSE oil and gas, energy, telecom, healthcare, power and utilities indices fell up to 1.51 per cent.

While auto, basic materials, FMCG and bankex rose up to 1.05 per cent. Broader midcap and smallcap indices fell up to 0.75 per cent.

“The market direction for tomorrow may also largely be guided by the content of the PM’S address and global cues,” Nair added.

On the currency front, the rupee settled 7 paise higher at 75.51 against the US dollar. International oil benchmark Brent crude futures fell 1.36 per cent to $41.28 per barrel.