Markets end lower led by auto, financial; Sensex down over 300 pts, Nifty below 17,250; Metal stocks gain

Fairness benchmark indices erased early morning’s get to near reduced as advertising force was seen in car, financials and pick out heavyweights. The BSE Sensex slipped 304 points or .53 for every cent to close at 57,685. The broader NSE Nifty also fell 70 points or .40 for each cent to settle at 17,246.

The Midcap and smallcap shares concluded on a mixed note as Nifty Midcap 100 index rose .55 for each cent and compact-cap shares dipped .21 for every cent each and every.

The Nifty Auto fell about 1% and is also the worst sectoral performer in today’s trade. Shares of Hero MotoCorp was down by 1% after the media stories claimed that Income Tax (I-T) section began lookups at the company’s premises. It also raided Hero MotoCorp Chairman Pawan Munjal and other senior executives of the corporation for suspected tax evasion.

Among the other sectors, Nifty Financial Products and services underperformed the index by slipping .88 per cent, nonetheless, Nifty Metallic and Nifty Pharma surged as a great deal as 1.21 per cent and .42 for every cent, respectively.

On the inventory-distinct front, Kotak Mahindra Lender was the major Nifty loser as the stock cracked above 2.5 per cent. HDFC, Britannia, Bharti Airtel and Sun Pharma ended up also amongst the laggards, whereas, Divis Labs, Hindalco, Dr Reddy’s Labs, and Tata Metal attained more than 2 for every cent just about every.

The overall market breadth on BSE stood unfavorable as 1,467 shares sophisticated whilst 1,927 declined.

Meanwhile, Brent crude futures traded close to the $117 a barrel mark on world-wide offer considerations amid the ongoing Russia-Ukraine conflict.

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