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Sensex, Nifty end lower amid profit booking
26 May
Summary
- Benchmark indices Sensex and Nifty closed lower on Tuesday.
- Early gains were erased due to profit booking and cautious sentiment.
- Global tensions and monthly F&O expiry increased market volatility.
Indian benchmark indices, the Sensex and Nifty, concluded Tuesday's trading session with losses, reversing earlier gains due to profit booking. Investor sentiment turned cautious following diminished hopes for an imminent US-Iran peace accord, exacerbated by fresh US strikes and statements suggesting prolonged negotiations.
The S&P BSE Sensex declined by 479.25 points to close at 76,009.70, while the Nifty 50 index fell 118 points to settle at 23,913.70. This downturn occurred despite a recent upward trend in both indices over the preceding two trading days.
Major drags on the index included Bharti Airtel, HDFC Bank, and ICICI Bank. Conversely, the broader market showed resilience, with the BSE 150 MidCap Index gaining 0.33% and the BSE 250 SmallCap Index rising by 0.21%. The market breadth was positive, with more shares advancing than declining on the BSE.
Globally, stock markets in Asia and Europe edged lower, influenced by developments in the Middle East and Ukraine, alongside volatile crude oil prices. US Dow Jones futures indicated a positive opening for Wall Street. In economic indicators, the Indian rupee weakened against the dollar, and the yield on India's 10-year benchmark federal paper advanced.
