After a 6-day winning streak, the Sensex fell 434 points and closed at 72,623 and
Nifty dropped 142 points and ended at 22,055.
Metal, PSU Bank, and Realty were the only sectors in the green, while all other major sectoral indices closed in the red.
Top Sensex losers were NTPC, PowerGrid, and Wipro, each falling over 2%. On the positive side, Tata Steel, SBI, IndusInd Bank, and JSW Steel closed higher.
Stocks in news
Zee Entertainment dropped 15% amid reports of a $241 million accounting issue unearthed by SEBI.
Tourism Finance Corporation closed with a 5% upper circuit after investor Aditya Kumar Halwasiya acquired a 13% stake in the company.
Sectoral Performance:
Nifty Media fell 4.9%, dragged down by Zee Ent, Dish TV, and Network18. Other sectors such as Auto, Bank, IT, Pharma, Healthcare, Consumer Durables, and Oil & Gas also closed in the red.
Asian markets
Asian stocks were mixed, and Chinese markets lifted on optimism over policymakers’ steps to boost confidence. The CSI300 index rallied 1.8%, while Hong Kong’s Hang Seng Index surged 3%. In Japan, Tokyo’s Nikkei closed down 0.26%.
OIL AND RUPEE
Oil prices declined amid concerns over output cuts by key producers. Brent crude futures fell 0.57% to $81.87 a barrel, while U.S. WTI was down 0.64% at $76.55. The rupee ended at 82.97 against the U.S. dollar.
