Indian equity benchmarks on Tuesday extended their fall for the second straight session, dragged by information technology, pharma and consumer goods stocks. The domestic indices gave up early gains to settle lower, tracking weakness in global markets.
Indian markets have fallen around 5 per cent so far this month as global equities have been under pressure. The Russia-Ukraine war, prospects of aggressive interest rate hikes to contain surging inflation, and the supply chain crisis -- which has been worsened by China's zero-Covid policy -- dented investor sentiment.
The 30-share BSE Sensex fell 236 points or 0.43 per cent to close at 54,053, while the broader NSE Nifty moved 90 points or 0.55 per cent down to settle at 16,125.
Mid- and small-cap shares finished on a weak note as Nifty Midcap 100 shed 0.65 per cent and small-cap slipped 1.26 per cent.
10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty IT, Nifty Pharma and Nifty FMCG underperformed the platform by falling as much as 1.88 per cent, 1.53 per cent and 1.30 per cent, respectively.
On the stock-specific front, Divi's Labs was the top Nifty loser as the stock cracked 6 per cent to Rs 3,663.90. Tech Mahindra, Grasim Industries, Hindustan Unilever and Hindalco were also among the laggards.
The overall market breadth stood negative as 1,043 shares advanced while 2,265 declined on BSE.
On the 30-share BSE index, TechM, HUL, HCL Tech, Asian Paints, NTPC, Infosys, Tata Steel, Axis Bank and Bajaj Finserv were among the top losers.
In contrast, Dr Reddy's, HDFC twins (HDFC and HDFC Bank), Kotak Mahindra Bank, PowerGrid, Nestle India, M&M, Reliance Industries, SBI and Bajaj Finance settled in the green.
Shares of Life Insurance Corporation of India (LIC) rose 0.84 per cent to close at Rs 823.75 after the state-run insurer said its board would consider dividend payment. LIC made a tepid debut at the exchanges last week, listing at a discount of 8.62 per cent over its issue price of Rs 949.
Zomato zoomed 13.95 per cent to close at Rs 64.95 as the online food delivery platform posted a 75.01 per cent increase in revenue from operations during the March quarter.
Logistics startup Delhivery, which got listed at 1.68 per cent, surged 10.32 per cent to close at 537.25 against its issue price of Rs 487 on the first day of trading.