Sensex and Nifty register fourth consecutive day loss as AGR woes hit telecom, financial stocks
New Delhi | Jagran Business Desk: Equity benchmark indices Sensex and Nifty closed in red for the fourth consecutive session in a row on Tuesday as ongoing AGR issue weighed on telecom and financial stocks.
After trading in red for a better part of the session, the BSE index reclaimed most of its lost grounds towards the close. At the closing bell, Sensex was down 161.31 points at 40,894.38 points.
In the intra-day, Sensex slipped over 44 points and touched the day's low of 40,610.95. The broader index Nifty also staged a late recovery from the day's low and settled at 11,992.5, showing a fall of 53.3 points.
Overall the markets have slipped 671.52 and 214.8 points in the last four days respectively.
In the Sensex pack, Bharti Airtel was the biggest loser falling nearly 3 per cent drop in its share price, followed by IndusInd Bank, Maruti Suzuki, HeroMoto Corp and Tata Steel.
On the flip side, SBI, Infosys, PowerGrid, Tech Mahindra and TCS featured among major gainers.
Meanwhile, on a net basis, domestic institutional investors sold shares worth Rs 960.48 crore on Thursday, while foreign institutional investors bought equities worth Rs 1,061.39 crore, data available with stock exchanges showed.
The Supreme Court on Monday refused to stop the telecom department from taking any forceful or threating step for recovery of dues from Vodafone-Idea.
The shares of Vodafone-Idea on Tuesday tanked over 16 per cent in intra-day trade due to rating downgrade on AGR dues and other issues of the company.
Asian bourses, barring China, closed with heavy losses.
Meanwhile, worries over the rising death toll and economic fallout from COVID-19 continued to affect investors' sentiments. So far the epidemic has led to the death of more than 1800 people with confirmed cases jumping to 72,436.
(with PTI inputs)
Posted By: James Kuanal