Sensex, Nifty Snap Two-day Winning Streak
(RTTNews) - Indian shares fell notably on Tuesday due to persistent concerns about United States' fiscal woes and fresh sell-off by foreign institutional investors (FIIs).
Signs of moderating corporate earnings growth, concerns about lofty valuations, delays in finalizing the India-U.S. trade agreement and rising Covid-19 cases across Southeast Asia also prompted profit booking at higher levels after two days of gains. The benchmark 30-share BSE Sensex dropped 624.82 points, or 0.76 percent, to 81,551.63, with financial and IT stocks coming under heavy selling pressure.
The broader NSE Nifty index ended down 174.95 points, or 0.70 percent, at 24,826.20 while the BSE mid-cap and small-cap indexes edged up by around 0.2 percent each.
The market breadth was slightly weak on the BSE, with 1,976 shares declining while 1,960 shares rose and 148 shares ended little changed.
Tata Motors, ITC and UltraTech Cement all fell around 2 percent, while IndusInd Bank, which is under regulatory scrutiny over lapses tied to the bank's forex derivatives, jumped 2.6 percent.
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