Bajaj Finserv was the top loser in the Sensex pack, falling over 1 per cent, followed by Sun Pharma, Dr Reddy’s, Tech Mahindra, HCL Tech and ICICI Bank.
Equity benchmark Sensex fell over 100 points in early trade on Tuesday, October 5, 2021, tracking losses in index heavyweights Infosys, ICICI Bank and TCS amid a negative trend in global markets.
After falling at 59,127.04 in the opening session, the 30-share Sensex was trading 102.49 points or 0.17 per cent lower at 59,196.83. Similarly, Nifty closed 28.60 points or 0.16 per cent lower at 17,662.65.
Bajaj Finserv was the top loser in the Sensex pack, falling over 1 per cent, followed by Sun Pharma, Dr Reddy’s, Tech Mahindra, HCL Tech and ICICI Bank.
On the other hand, Maruti, Bharti Airtel, PowerGrid and HUL were among the gainers.
In the previous session, the 30-share index ended 533.74 points or 0.91 per cent higher at 59,299.32 and the Nifty rose 159.20 points or 0.91 per cent to 17,691.25.
FII net buyer
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 860.50 crore on Monday, according to exchange data.
According to Binod Modi, Head of Strategy at Reliance Securities, domestic stocks are not looking good right now. The sharp rise in oil prices is a new turn in Indian equities, which could inevitably further tighten inflation and adversely affect the government’s financial math.
US stocks fell sharply, with all three major indices falling around 1-2 per cent in the overnight session due to intense concerns about prolonged inflationary pressure on rising oil prices, he said.
Elsewhere in Asia, shares in Seoul and Tokyo were trading with heavy losses, while Hong Kong was positive in mid-session deals. Shanghai was closed for the holidays.
Meanwhile, international oil benchmark Brent crude rose 0.37 per cent to $81.56 per barrel.
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