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The Sensex closes at 74,529.08, down 329.91 points or 0.44%; while the Nifty falls 85.30 points or 0.36% to settle at 23,329.
Stock Market Today.
The domestic equity markets ended lower on Tuesday, September 22, as selling pressure in IT, banking and other heavyweight stocks erased early gains. The market opened on a firm note but failed to sustain the momentum, with the Sensex falling more than 600 points between the day’s high and low.
The BSE Sensex closed at 74,529.08, down 329.91 points or 0.44%. The index had touched an intraday high of 75,038.93 and fell to a low of 74,423.71 during the session. From its day’s high, the Sensex shed 509.85 points by the close.
The Nifty closed at 23,329, down 85.30 points or 0.36%. It had opened at 23,454.05 and touched an intraday high of 23,489 before slipping to a low of 23,285.75.
IT stocks were among the biggest drags on the benchmark indices. The Nifty IT index fell 0.86% at the close. Among the major IT stocks, HCL Technologies fell 1.77%, Infosys 0.98%, TCS 1.13%, Tech Mahindra 0.51% and LTIMindtree 0.93%.
Banking stocks also remained under pressure. The Nifty Bank index declined 0.45%, while Nifty Financial Services fell 0.42%.
The broader market also saw selling pressure. Nifty Next 50 fell 0.39%, Nifty 100 declined 0.37%, while Nifty 500 dropped 0.29%. Nifty Smallcap 100 declined 0.23%.
The India VIX fell 2.88% to 10.92, indicating that the decline in benchmark indices was accompanied by lower near-term volatility expectations.
Among Sensex constituents, Eternal rose 1.94%, making it the biggest gainer, followed by IndiGo, which gained 1.58%. Titan rose 0.72%, while Tata Steel and NTPC also ended higher. On the losing side, Bajaj Finserv fell 1.62%, HCL Technologies 1.77%, Infosys 0.98%, TCS 1.13% and Sun Pharma 1.28%.
Vinod Nair, head of research, Geojit Investments Ltd, said, “The continued decline in crude oil prices, with Brent slipping below the key $100/bbl level, provided some relief to investors and helped the domestic market recover from intraday lows, although overall sentiment remained cautious. Expectations of renewed diplomatic efforts surrounding the Iran conflict and prospects of improved Saudi oil shipments eased concerns over inflationary pressures, while positive global cues lent additional support to the market. Sectoral performance remained mixed, reflecting a selective risk appetite among investors.”
With crude prices witnessing a sharp correction in recent weeks, market participants are increasingly focused on the sustainability of this trend given its implications for inflation, bond yields and corporate earnings. While geopolitical uncertainties remain unresolved, sustained stability in energy prices could improve earnings visibility and provide a firmer foundation for a broader market recovery, he added.
The domestic market had started Tuesday on a positive note amid supportive global cues, including lower crude oil prices and gains across Asian markets. However, the early momentum faded as investors turned cautious and selling emerged in heavyweight stocks. The Sensex, which had climbed above the 75,000 mark during the morning session, subsequently declined steadily and ended below the previous day’s close of 74,858.99.
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Ask News18The BSE Sensex closed down 329.91 points, or 0.44%, at 74,529.08, while the Nifty ended 85.30 points lower, or 0.36%, at 23,329.
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