Sensex Drops Over 200 Points On Mideast Tensions; Nifty Nears 24,850
(RTTNews) - Indian shares ended Tuesday's session modestly lower as the conflict between Israel and the Islamic republic raged and U.S. President Donald Trump called for the immediate evacuation of Tehran, signaling potential escalation of the conflict.
A rebound in oil prices along with recent FII selling weighed on markets as fighting between Iran and Israel continued for a fifth day.
The benchmark 30-share BSE Sensex dropped 212.85 points, or 0.26 percent, to 81,583.30 while the broader NSE Nifty index closed at 24,853.40, down 93.10 points, or 0.37 percent, from its previous close.
The BSE mid-cap and small-cap indexes fell 0.6 percent and 0.7 percent, respectively. The market breadth was weak on the BSE, with 2,485 shares declining while 1,489 shares advanced and 140 shares closed unchanged.
Tata Motors shares fell more than 2 percent after both global and domestic brokerages slashed its earnings forecasts and flagged margin risks.
Healthcare stocks suffered losses, with Lupin tumbling 3.6 percent and Sun Pharma declining 1.9 percent after U.S. President Trump told reporters on board the Air Force One, that tariffs on the Pharma sector are 'coming soon.'
Vishal Mega Mart shares surged 4 percent in volatile trade after a big Rs 10,488 crore block deal by promoter Samayat Services, following the end of a lock-in period. Sterlite Technologies shares continued their upward movement, soaring more than 12 percent amid heavy volumes after announcing that it plans to double down on expanding artificial intelligence (AI)-driven data centre market, both in India and globally.
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