India’s stock market closed slightly lower on Tuesday, ending a four-day winning streak as investors booked profits after recent gains.
The BSE Sensex dropped 104.35 points, or 0.13%, to close at 78,180.72. The NSE Nifty50 also fell 31.65 points, or 0.13%, to end at 24,398.70.
The market remained cautious before the release of the US Federal Reserve’s meeting minutes and the start of the April-June earnings season. Investors are waiting for company results and global market signals before making fresh investments.
IT stocks were the biggest gainers of the day. The Nifty IT index rose 2.43% as investors expected better quarterly results after last week’s sharp fall in the sector.
However, selling in other sectors pulled the market lower. A major retail stock fell more than 12% after its June quarter business update did not meet market expectations.
The broader market also remained weak. Mid-cap and small-cap stocks ended lower, showing that selling was seen across many shares.
Among sectors, IT, healthcare, pharma, FMCG and PSU banks closed with gains. Realty, metal, chemicals, media, oil and gas, auto and private banking stocks ended in the red.
Meanwhile, the Indian rupee rose 0.45% against the US dollar, recording its biggest one-day gain in nearly three weeks.v
