Markets stop 7-day rally; RIL, Weigh Financial Stocks

Equity benchmarks closed lower on Tuesday, a break from their seven-day rally amid weak Asian market signals and mixed trends in European stocks.

The 30-stock BSE benchmark failed to sustain early gains and fell by 287.70 points, or 0.48 percent, to end at 59,543.96. During the day, it hit a low of 59,489.02 and a high of 60,081.24.

On similar lines, the broader NSE Nifty fell 74.40 points or 0.42 percent to finish at 17,656.35.

In the Sensex package, Nestle India, Hindustan Unilever, Bajaj Finserv, Kotak Mahindra Bank, HDFC, Reliance Industries, Bajaj Finance and Asian Paints were among the big laggards.

Tech Mahindra, Maruti, Larsen & Toubro, Dr Reddy’s, State Bank of India and NTPC were among the winners.

Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong closed lower, while Tokyo finished higher.

Stock markets in Europe traded on a mixed note in mid-session deals. Wall Street had finished higher on Monday.

During a special one-hour Muhurat trading session on Monday to mark the beginning of the Hindu Samvat year 2079, the BSE benchmark rose 524.51 points or 0.88 percent to end at 59,831.66. The Nifty rose 154.45 points, or 0.88 percent, to end at 17,730.75.

International oil benchmark Brent oil was down 1.27 percent at USD 92.08 per barrel.

Foreign institutional investors (FIIs) unloaded shares worth Rs 153.89 crore on Monday, according to stock market data.

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