Markets decline for a second day as car and commodities companies drop down
Monday’s losses in the major equity indexes Sensex and Nifty continued for the second consecutive day as traders dumped commodities, auto, and utility sectors in the wake of further outflows of foreign funds.
The 30-share BSE Sensex dropped 139.58 points, or 0.21 percent, in a tumultuous session to end at 65,655.15. It dropped 246.93 points, or 0.37 percent, to 65,547.80 throughout the day.
The Nifty fell to 19,694 by 37.80 points, or 0.19 percent.
The biggest laggards among the Sensex companies were Bajaj Finance, Tata Motors, Bajaj Finserv, UltraTech Cement, Mahindra & Mahindra, Asian Paints, and Hindustan Unilever.
Among the winners were Maruti, Bharti Airtel, Wipro, HCL Technologies, Tech Mahindra, and Tata Consultancy Services.
Tokyo finished down on the Asian markets, but Seoul, Shanghai, and Hong Kong settled in the green.
The state of the European markets was inconsistent. On Friday, there were slight advances made by the US markets.
The benchmark for world oil, Brent crude, increased by 0.74 percent to $81.21 a barrel.
According to exchange statistics, foreign institutional investors (FIIs) offloaded stocks worth Rs 477.76 crore on Friday.
The BSE benchmark closed Friday at 65,794.73, down 187.75 points, or 0.28 percent. To 19,731.80, the Nifty fell 33.40 points, or 0.17 percent.
