Sensex tumbles 379 pts, Nifty hovers around 21,650,auto stock face headwinds

Ira Singh
Khabar Khabaron Ki,02 Jan’24

The domestic share benchmark indices traded lower on Tuesday, dragged by losses in the banking and IT stocks tracking negative cues from Asian peers.At close,the Sensex was down 379.46 points or 0.53 percent at 71,892.48, and the Nifty was down 76.10 points or 0.35 percent at 21,665.80.

Stocks and Sectors
Coal India, Adani Ports, Sun Pharma, Divis Labs and Cipla were the top gainers on the Nifty, while losers included Eicher Motors, M&M, UltraTech Cement, L&T and Kotak Mahindra Bank.

On the sectoral front,the pharma index was up 2.5 percent, while auto, realty, capital goods, bank and Information Technology were down by 1 percent each.BSE Midcap and Smallcap indices ended on a flat note.

On 02 Jan’24,the Indian rupee depreciated by 11 paise to close at 83.32 against the US dollar on Tuesday, amid a muted trend in domestic equities and dollar demand from importers.Forex traders said foreign fund outflows and dollar demand from importers weighed on investor sentiments.

Experts Take:
Market experts have recommended six stocks to buy for Tuesday-India Cements, SPARC, SBI, RIL, Sterling & Wilson Renewable Energy and Route Mobile.