Equity benchmark Sensex declined by 112 points on November 9 due to profit booking in index-heavyweights HDFC twins, Kotak Bank and Bajaj Finance despite a positive trend in global markets.
After a volatile trading session, the 30-share index ended 112.16 points or 0.19% lower at 60,433.45 with 16 of its constituents ending in the red.
The broader Nifty of the National Stock Exchange fell by 24.30 points or 0.13% to 18,044.25 as private banks and FMCG stocks declined.
HDFC Bank was the top loser in the Sensex pack, shedding nearly 2%, followed by HDFC, Bajaj Finance, NTPC, Maruti, Kotak Bank and PowerGrid.
On the other hand, gains in M&M, SBI, Reliance Industries and ICICI Bank helped restrict losses.
“After a positive opening, the domestic market traded lower as private banking stocks were under pressure following dull global markets,” said Vinod Nair, head of research at Geojit Financial Services.
Despite the passage of the long-awaited infrastructure bill, the gains in the U.S. market were capped as investors cautiously awaited the U.S. inflation data, he stated.
Sectorally, BSE metal, finance, consumer durables, bankex and FMCG indices fell up to 0.91%, while industrials, capital goods, auto and oil and gas indices rose up to 1.39%.
Broader midcap and smallcap indices rose up to 0.82%.
Deepak Jasani, head of retail research, HDFC Securities, said, “On a day when the volumes on the NSE were a little below recent average, capital goods, auto and oil & gas indices gained the most while metals, banks and FMCG indices fell the most.
“Boosted by a $1 trillion U.S. infrastructure bill, global stock markets remained close to their all-time highs on Tuesday but investors were reluctant to commit further to the rally before getting a clearer picture of the surge in US inflation.”
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended in a positive note, while Tokyo was in the red.
Major indices in Europe were also trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude rose 0.91% to $84.19 per barrel.
