The Indian equity benchmark NSE Nifty 50 ended near a five-month low, dragged by Reliance Industries Ltd, State Bank of India, IndusInd Bank Ltd and HDFC Ltd on Tuesday, 30 July, reported BloombergQuint.
The 50-stock index closed 0.93 percent lower at 11,085, the lowest since 8 March, 2019. Meanwhile, the S&P BSE Sensex ended 289 points or 0.77 percent lower at 37,397.24.
The broader market represented by the NSE Nifty 500 Index fell 1.15 percent.
Foreign investors spooked by the “super-rich” tax and waning earnings growth of Indian companies are impacting the nation’s equities, Chakri Lokapriya, managing director of TCG Asset Management told BloombergQuint in an interaction.
Ten out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty PSU Bank Index’s 4.9 percent fall. On the flipside, the NSE Nifty IT Index was the only sectoral gainer, up 0.65 percent.
Yes Bank, IndusInd Bank, Indiabulls Housing, Hero Motocorp and Sun Pharma were among major losers on the Nifty, while Bharti Airtel, TCS, HCL Tech, ITC and HUL were the major gainers, reported Moneycontrol.
(With inputs from BloombergQuint and Moneycontrol.)
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