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Sensex, Nifty Decline; Auto And Pharma Stocks Lead Losses
(RTTNews) - Indian shares drifted lower again on Tuesday, after having snapped a five-day losing streak the previous day.
The benchmark S&P/BSE Sensex was down 370 points, or half a percent, at 79,633 in early trade while the broader NSE Nifty index was down 125 points, or half a percent, at 24,213.
Automakers traded lower, with Bajaj Auto and Tata Motors falling around 3 percent each.
Hero Moto Corp declined 1.7 percent after revealing its 2024 EICMA plans.
Indian Oil Corp fell 2.5 percent after Q2 net profit slumped 98 percent.
Bharti Airtel dropped 2.7 percent despite second-quarter profit surging 168 percent year-on-year led by tariff hikes.
Sun Pharma gave up 1.4 percent despite reporting a 28 percent rise in quarterly profit. Peer Cipla was down nearly 3 percent.
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Asian Markets Trade Mostly Higher
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Rally May Stall For Thai Stock Market
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Lower Open Called For Indonesia Stock Market
The Indonesia stock market has moved higher in three straight sessions, advancing almost 225 points or 2.9 percent in that span. The Jakarta Composite Index now rests just above the 7,850-point plateau although it may spin its wheels on Monday.
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Hong Kong Shares Tipped To Open To The Downside On Monday
The Hong Kong stock market bounced higher again on Friday, one day after ending the four-day winning streak in which it had climbed almost 1,250 points or 4.9 percent. The Hang Seng Index now sits just beneath the 26,390-point plateau although it figures to find renewed selling pressure on Monday.
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Australian Market Notably Lower
The Australian stock market is notably lower on Monday, giving up the gains in the previous session, following the mixed cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling below the 8,800.00 level, with weakness across all sectors lod by mining and technology stocks.
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