Mumbai, May 28 (IANS) Indian equity benchmarks closed in the red on Tuesday as investors took to profit booking before the Lok Sabha election results to be announced next week.
The Sensex was down 220 points or 0.29 per cent at 75,170, while the Nifty shed 44 points or 0.19 per cent to close at 22,888 on Tuesday.
The midcap and smallcap stocks were the worst hit, as the Nifty midcap 100 index closed at 52,294, down 466 points or 0.89 per cent, while the Nifty smallcap 100 index was down 144 points or 0.85 per cent, at 16,875.
The India volatility index (VIX) was down 4.31 per cent at 24.19.
Sector-wise, auto, IT, PSU bank, metal, realty, and energy stocks were the major losers, while pharma and media shares were the major gainers.
Nineteen out of the 30 Sensex stocks closed in the red on Tuesday.
Power Grid, Tech Mahindra, NTPC, Bharti Airtel, Tata Motors, and Reliance were the top losers, while Asian Paints, Wipro, HUL, JSW Steel, Bajaj Finserv, and M&M were the top gainers on Tuesday.
Vaibhav Vidwani, Research Analyst at Bonanza Portfolio Ltd, said that investors are opting for a cautious approach before the exit polls on Saturday, which can give an idea of the possible election results.
“Expectations of a budget in July, which will support the order books of defence, infra, railway, and sectors which will benefit from the budget, have already given movement in near terms,” he added.
–IANS
avs/arm
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
