Sensex, Nifty End Lower With Banks Under Pressure
(RTTNews) - Indian shares ended Tuesday's session lower due to ongoing trade concerns and renewed foreign fund outflows.
The announcement of a meeting between Russian President Vladimir Putin and U.S. President Donald Trump has fuelled expectations of a potential end to sanctions limiting supply of Russian oil to other markets.
However, Trump downplayed expectations for the meeting in Alaska, saying he would confer with Ukraine and European leaders after the sitdown, adding it would be "really a feel-out meeting."
Investors also awaited July's domestic inflation data and a key U.S CPI inflation report for additional clues on the interest-rate outlook.
Global cues were mixed as the United States and China confirmed a 90-day extension of their trade truce, as expected. This keeps tariffs steady until November.
The benchmark BSE Sensex fell 368.49 points, or 0.46 percent, to 80,235.59 after climbing 0.9 percent on Monday.
The broader NSE Nifty index dropped 97.65 points, or 0.40 percent, to 24,487.40. The BSE mid-cap index dipped 0.3 percent while the small-cap indexe finished marginally higher.
The market breadth was strong on the BSE, with 2,065 shares rising while 1,977 shares declined and 162 shares closed unchanged.
Among the prominent decliners, Kotak Mahindra Bank, BEL, ICICI Bank, Bajaj FinServ, Eternal, HDFC Bank, Hindustan Unilever, Trent and Bajaj Finance lost 1-3 percent.
Automakers and IT stocks witnessed good amount of buying, with Maruti Suzuki India, Mahindra & Mahindra and Tech Mahindra all rising around 2 percent.
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