Mumbai: Equity benchmark BSE Sensex resumed its downward march Wednesday, closing 174 points in the red as risk sentiment remained subdued following a lacklustre start to the earnings season.
Investors were also spooked after US President Donald Trump Tuesday launched a fresh attack on India over its tariffs on American imports, traders said.
Unabated foreign fund outflows, weak auto sales data and a depreciating rupee further weighed on the bourses, they added.
After swinging nearly 400 points during the day, the 30-share Sensex settled 173.78 points or 0.45 per cent lower at 38,557.04.
Similarly, the broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90, marking its fourth straight day of losses.
Bajaj Finance was the biggest loser in the Sensex pack, cracking 4.91 per cent. Shares of Tata Consultancy Services finished 1.16 per cent lower after the company’s June quarter earnings failed to meet market expectations.
Tata Steel, Tata Motors, Axis Bank, L&T, Hero MotoCorp, M&M, Bajaj Auto and SBI also ended up to 2.94 per cent lower.
Auto stocks fell after SIAM data showed that domestic passenger vehicle (PV) sales declined for the eighth consecutive month in June.
On the other hand, Yes Bank, Sun Pharma, Kotak Bank, ICICI Bank and PowerGrid bucked the weak market trend, rising up to 1.81 per cent. (PTI)
