Markets snap 4-day winning run, Sensex declines 195 points

Sensex and Nifty closed at lifetime high levels on Monday after a four-day winning run which saw the indices rising by around 2 per cent

Benchmark Sensex declined by 195 points while Nifty slipped below the 22,400 level on Tuesday, snapping the four-day gaining streak due to losses in IT and FMCG shares amid weak global trends and foreign fund outflows.

Taking a breather after a record-breaking rally, the 30-share BSE Sensex declined by 195.16 points or 0.26 per cent to settle at 73,677.13 due to profit taking. During the day, the barometer tanked 460.04 points or 0.62 per cent to a low of 73,412.25.

The broader Nifty declined by 49.30 points or 0.22 per cent to close at 22,356.30.

Sensex and Nifty closed at lifetime high levels on Monday after a four-day winning run which saw the indices rising by around 2 per cent.

Among Sensex firms, Bajaj Finserv and Bajaj Finance fell by over 4 per cent each. Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever were the other major laggards.

Bharti Airtel, State Bank of India, Sun Pharma and NTPC

Among sectoral indices, IT fell by 1.61 per cent, FMCG dipped 1.02 per cent, tech by 0.89 per cent, capital goods by 0.37 per cent & consumer durables by 0.36 per cent

were among the gainers.

Tata Motors, which announced the demerger of its passenger and commercial vehicle businesses into two listed entities, closed higher by 3.52 per cent after rallying to a 52-week high in intra-day trade.

In the broader market, the BSE smallcap gauge declined 0.63 per cent and midcap index dipped 0.17 per cent.

Among sectoral indices, IT fell by 1.61 per cent, FMCG dipped 1.02 per cent, tech by 0.89 per cent, capital goods by 0.37 per cent and consumer durables by 0.36 per cent.

Consumer Discretionary, energy, telecommunication, utilities and auto were among the gainers.