Sensex falls over 240 pts; Nifty down 95 pts at 10435.50

Closed Market- Sensex, Nifty shut the first trading session of 2018 near day’s low accompanied by a sharp sell-off in the end hour of trades. Selling pressure in auto stocks, IT, among others, led to a plunge in Indian market, with the BSE Sensex down 244.08 points at 33,812.75, while the NSE Nifty slipped by 95.20 points at 10435.50. Auto stocks nose-dived. 

The auto index such as Ashok Leyland (-0.5%), M&M (-1.07%), Tata Motors (-1.25%), Hero MotoCorp (-0.59%), Bajaj Auto (-0.76%) and Eicher Motors LImited (-1.16%) edged lower. 

Top gains catch by BHEL, Coal India Ltd, Tata Power Ltd and Indiabulls HF, while major losers include IndusInd Bank, Tata Motors Ltd, Tata Consultancy Services, Bharti Infratel. 

FMCG major Hindustan Unilever Limited (HUL) dropped 1.4% at Rs 1,349, while housing finance major HDFC declined 0.94% at Rs 1,694.35. Telecom Stocks declined, which include Idea Cellular (-2.87%), Reliance Communications (-2.54%), Bharti Infratel (-2.07%) and Bharti Airtel (-0.17%). 

Except the Nifty realty, Nifty media and pharma index all the other sectoral indices ended with losses. Nifty Bank and Auto indices were the top losers followed by IT and FMCG index.

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Sensex up 406 points, Nifty reclaims 8000, Stock market closing update

The benchmark indices on Tuesday closing at higher on the back of value buying in blue-chip stocks like Tata Steel , Adani Ports with Sensex trading over 406 points higher, while Nifty50 surged above 8,000 level. 

All index stocks excluding GAIL end higher. Broader market rallied with the BSE Midcap and BSE Smallcap indices adding 1.71%, and 1.49%, respectively.  

About 1679 shares advanced, 862 shares declined, and 193 shares were unchanged. The Nifty Bank snapped 3-day losing streak, closed with gains of over 1.2%. Adani Ports, Tata Steel, Lupin and Cipla are other gainers while GAIL, Hero MotoCorp, HDFC, Bharti Airtel and ONGC are losers in the Sensex. 

The statement spelled out from Finance Minister Arun Jaitley advocating lower taxes in the economy weeks before the Union budget might help investors with some positive confidence that boosted to a great extent.