Mumbai, July 7: Benchmark stock indices Sensex and Nifty closed lower on Tuesday due to last-minute profit-taking after a four-day rally and weak Asian trends.
Paring its early gains, the 30-share BSE Sensex declined by 104.35 points, or 0.13 per cent, to close at 78,180.72. During the day, it climbed 379.85 points, or 0.48 per cent, to 78,664.92.
The 50-share NSE Nifty dipped 31.65 points, or 0.13 per cent, to end at 24,398.70. Sensex and Nifty had rallied more than 2 per cent in the last four sessions to hit more than two-month high levels on Monday.
Among Sensex shares, Trent emerged as the top loser, tumbling 12.42 per cent after its June quarter revenue growth missed market expectations. Adani Ports, Bharat Electronics, Larsen & Toubro, Reliance Industries and ICICI Bank were also among the laggards.
Gains in IT shares, however, capped losses in key indices. HCL Tech led the gains, rising by 3.08 per cent ahead of the announcement of financial results. Tech Mahindra, Infosys, and Tata Consultancy Services also advanced. TCS will announce the quarterly results on Thursday, marking the start of earnings season for Indian IT players.
Among others Titan jumped 2.62 per cent after the company reported a 41 per cent growth in its revenue for the June quarter of FY27, driven by strong performances across its jewellery, watches and eyewear segments.
The BSE SmallCap Select index declined 1.08 per cent and MidCap Select index dipped 0.15 per cent.
Sectorally, Capital Goods dropped 1.73 per cent, followed by Realty lost 1.61 per cent, Industrials (1.49 per cent), Power (1.12 per cent), Metal (1.04 per cent), Commodities (0.90 per cent) and Hospitals (0.90 per cent).
Focused IT surged 2.25 per cent, IT jumped 2.12 per cent, Consumer Durables (0.65 per cent), MidSmall Private Banks Quality Tilt (0.55 per cent) and Oil & Gas (0.09 per cent). A total of 2,633 stocks declined, while 1,599 advanced and 165 remained unchanged on the BSE.
Brent crude, the global oil benchmark, jumped 1.22 per cent to USD 72.87 per barrel.
US markets were mixed early Tuesday as technology stocks gave back a chunk of their gains from a day earlier.
Futures for the S&P 500 lost 0.2 per cent while futures for the Dow Jones Industrial Average ticked up 0.3 per cent. Nasdaq futures fell 1 per cent.
In Asia, chipmaker Samsung Electronics slumped 7.7 per cent despite a 19-fold surge in operating income surged in the last quarter. Its revenue more than doubled.
“The first proper AI stress test may not have arrived with weak demand, a capex warning, or some sudden crack in the data centre story. It may have arrived with Samsung posting an extraordinary quarter and the stock falling anyway,” Stephen Innes of SPI Asset Management said in a commentary.
US chipmaker Broadcom, which helped to pull markets higher on Monday with a 3.7 per cent gain, gave most of that back overnight, sliding 2.8 per cent before the opening bell. Micron, Marvell Technology and Intel were all down between 4 per cent and 6 per cent in the early going.
Western Digital, a data storage company whose stock has tripled this year on the AI wave, fell 7 per cent before the opening bell.
SpaceX, which owns xAI, fell less than 1 per cent ahead of its debut on the Nasdaq 100 index. That inclusion will force funds like the QQQ exchange-traded fund, which mimic the index, to buy SpaceX shares themselves.
At midday in Europe, Germany’s DAX shed 0.6 per cent, the CAC 40 in Paris climbed 0.3 per cent as did Britain’s FTSE 100.
Asian shares markets retreated, with South Korea’s Kospi closing 4.9 per cent lower at 7,656.31 after dropping as much as 8 per cent earlier in the day.
Tokyo’s Nikkei 225 declined 2.1 per cent to 68,256.96. Computer chipmaker Tokyo Electron lost 3.9 per cent and chipmaker Kioxia Holdings shed 11.3 per cent.
The Hang Seng in Hong Kong declined 0.5 per cent to 23,496.98, while the Shanghai Composite index gave up 1.3 per cent to 3,990.24. Taiwan’s Taiex lost 2.3 per cent.
In Australia, the S&P/ASX 200 declined 0.3 per cent to 8,803.90 and India’s Sensex shed 0.1 per cent.Foreign Institutional Investors (FIIs) bought equities worth Rs 243.03 crore on Monday, according to exchange data. (Agencies)
