Sensex, Nifty Tumble Despite Firm Global Cues

RTTNews | 982 hari yang lalu
Stocktwits
Sensex, Nifty Tumble Despite Firm Global Cues

(RTTNews) - Indian shares tumbled on Tuesday despite positive cues from global markets.

Banking stocks suffered losses after HDFC Bank's Q3 results showed a strain on margins.

FII selling amid heightened economic uncertainty in major global economies and the latest results by Reliance Industries revealing a slight dip in Q3 consolidated revenue also hurt investor sentiment.

Meanwhile, rising oil prices on concerns about possible supply disruptions due to rising tensions in the Middle East, and the extreme cold weather in North America raised concerns about inflation and the interest-rate outlook.

The benchmark S&P BSE Sensex slumped 1,053.10 points, or 1.47 percent, to 70,370.55 while the broader NSE Nifty index ended down 333 points, or 1.54 percent, at 21,238.80.

Adani Ports, ONGC, SBI Life, Coal India and IndusInd Bank plummeted 4-6 percent in the Nifty pack, while Cipla soared 7 percent after reporting strong Q3 earnings.

Rival Sun Pharma jumped over 4 percent while Dr Reddy's Laboratories, ICICI Bank and Bharti Airtel added 1-3 percent.

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