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Sensex, Nifty fall for 3rd day; bank stocks, rising yields weigh

Sensex, Nifty fall for 3rd day; bank stocks, rising yields weigh

Benchmark equity indices Nifty50 and Sensex extended their losses for a third consecutive session on Tuesday, bogged down by the ripple effect of Punjab National Bank’s Rs 11,400 crore loan fraud and sudden spike in India’s 10-year bond yields.

However, shares of Punjab National BankBSE 0.13 % broke the losing streak of four sessions and closed 0.13 per cent up at Rs 116.55 on BSE.

Although markets registered a positive opening on Tuesday, it erased the entire gains of the day during the final hour of the trade, mainly due to profit booking in bank and financial stocks. Weak Asian cues too dampened the mood.

Moreover, rising bond yields too scared investors away from the equity market. The 10-year bond yield hit 7.68 per cent intraday, its highest level in two years, pushing stock market lower in late trade.

The Nifty50 index settled 18 points, or 0.17 per cent, down at 10,360, while the 30-share Sensex closed 71 points, or 0.21 per cent, down at 33,704 on Tuesday.

Among the 50 stocks in the Nifty50 index, 27 settled in the green, while 22 in the red. One stock remained unchanged.

Broader BSE Midcap and smallcap indices too closed lower by 0.06 per cent and 0.15 per cent, respectively.

The bandwagon of gainers included Coal IndiaBSE 1.84 %, ONGC, Bharti Airtel and State Bank of India. On the contrary, the pack of losers featured Mahindra & Mahindra, Axis BankBSE -1.44 %, Kotak Mahindra Bank, YES BankBSE -1.06 % and HDFC Bank.

Meanwhile, IT and metal stocks caught investors’ attention and most of them managed to end the day in the green.

The Nifty Metal index closed the day with a gain of over 1 per cent, with VedantaBSE 2.53 %, NMDC and Coal India climbing 2.70 per cent, 1.99 per cent and 1.83 per cent, respectively.

IT pack gained on weak rupee and most of the tech stocks including MindtreeBSE 0.78 %, Tata Consultancy ServicesBSE 0.70 %, Wipro and InfosysBSE 0.42 % settled among the gainers. Nasscom’s positive outlook on the sector also attracted buying interest.

Globally, European shares appeared cold as bond market regained traction. Asian peers Hang Seng and Nikkei ended 1 per cent lower.

Opinion Poll
With assembly election ahead With assembly election ahead, well known Digital Media platform clipper28.com has decided to gauge the mood of Chhattisgarh through its own opinion poll. As an aware voter and stakeholder of the democratic process, kindly do answer the following questions so that prevailing mood of state can be ascertained.
Name
Age
Assembly Segment
Phone Number
Which party will emerge as the single largest party?
Which party will win how many seats?
Whom would you like to see as next Chhattisgarh Chief Minister?
Have you witnessed development work in your area?
Do you think that farmers of Chhattisgarh are satisfied with BJP government?
Do you think youngsters are happy with employment scenario created by Chhattisgarh/state government?
Do you think state government has done enough on issue of women empowerment?
Are you satisfied with work done by your legislator? Have electoral promises been fulfilled or not?
Are you satisfied with the amenities provided by the government in your area?
Do you think the state government has successfully tackled naxal menace?
Are you satisfied with work done by different state Ministers?

Please do vote...

ओपिनियन पोल
छत्तीसगढ़ की आगामी विधानसभा चुनाव के लिए डिजिटल मीडिया ‘clipper28.com’ नेसटीक ओपिनियन पोल करनेका निश्चय किया है. अतः आप नीचे दिए सवालों के निष्पक्ष जवाब देंताकि राज्य की आने वाले दिनों की सही सियासी तस्वीर सामनेआ सके. कृपया अपना मत जरूर दें- With assembly election ahead
नाम
विधानसभा क्षेत्र
आयु
फ़ोन नं
विधानसभा चुनाव में सबसे बड़ी पार्टी कौन सी होगी ?
किस पार्टी को कितनी सीटें मिलेगी?
अगले मुख्यमंत्री के रूप में किसे देखना चाहेंगे?
क्या आपके क्षेत्र में विकास दिखाई पड़ रहा है?
क्या छत्तीसगढ़ का किसान भाजपा शासन से संतुष्ट है?
जो रोजगार छत्तीसगढ़ सरकार ने दिया, क्या उससे युवा वर्ग संतुष्ट है?
राज्य सरकार ने महिलाओं के सशक्तिकरण के लिए जो किया, उससे महिलाएं संतुष्ट हैं?
क्या आप अपने विधायक से संतुष्ट हैं? उन्होंने अपने वादे पूरे किए या अधूरे हैं उनके काम?
क्या आप अपने क्षेत्र की सरकारी सुविधाओं सेसंतुष्ट हैं?
क्या नक्सली समस्या पर नियंत्रण हुआ है?
क्या प्रदेश के मंत्रियों के कामकाज से संतुष्ट हैं?
-देश हित के लिए मतदान अवश्य करें-
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