Mumbai: Equity benchmark Sensex declined 186 points on Tuesday, tracking losses in ICICI Bank, Kotak Bank and Infosys as investors booked profits at higher levels.
The 30-share BSE index ended 185.93 points or 0.35 per cent lower at 52,549.66. Similarly, the broader NSE Nifty tumbled 66.25 points or 0.42 per cent to 15,748.45.
Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank.
On the other hand, PowerGrid, HUL, NTPC, Dr Reddy's and Nestle India were among the gainers.
According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities extended losses as profit-booking in financials, auto and metals dragged benchmark indices down. Weak cues from global markets also weighed on sentiments, he said.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with losses.
Stock exchanges in Europe were, however, trading with gains in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.27 per cent lower at USD 73.94 per barrel.
Rupee Falls 4 Paise To Close At 74.23 Against US Dollar
The rupee weakened by 4 paise to end at 74.23 (provisional) against the US dollar on Tuesday as weaker domestic equities and stronger dollar index weighed on forex market sentiment.
At the interbank foreign exchange market, the rupee opened at 74.26 per dollar as against its previous close of 74.19. It hovered in the range of 74.20 to 74.28 during the day before ending at 74.23 against the greenback.
"Rupee depreciated amid weaker domestic equities and stronger dollar index as the Asian regional currencies once again face cases of a new variant of coronavirus and probable strict restrictions at state level," Dilip Parmar, Research Analyst, HDFC Securities said.
The expectations of higher-than-expected fiscal deficit after governments' announcement of new relief package on Monday weighed on investor sentiment.
"Near-term momentum remains sideways with spot USDINR expected to remain in tight range of 74 to 74.50," Parmar added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 91.97.
On the domestic equity market front, the BSE Sensex ended 185.93 points or 0.35 per cent lower at 52,549.66, while the broader NSE Nifty fell 66.25 points or 0.42 per cent to 15,748.45.
Brent crude futures, the global oil benchmark, declined 0.24 per cent to USD 74.50 per barrel.
Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 1,658.72 crore, as per exchange data.
Gold, Silver Decline On Muted Global Trends
Gold prices declined by Rs 89 to Rs 46,167 per 10 gram in the national capital on Tuesday following weak global cues, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 46,256 per 10 gram.
Silver also declined by Rs 222 to Rs 67,926 per kg from Rs 68,148 per kg in the previous trade.
In the international market, gold was trading lower at USD 1,774 per ounce and silver was flat at USD 26.02 per ounce.
"Gold prices witnessed lower trading on stronger dollar," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP Commodities Research, Motilal Oswal Financial Services said, "Gold prices edged lower after steady move witnessed in the last couple of sessions amidst an uptick in dollar."