Stock markets snap rally to end lower

PTI

MUMBAI, May 26: Market benchmark indices Sensex and Nifty ended lower in a volatile trade on Tuesday following a spike in crude oil prices amid reports of fresh US military operations in southern Iran.

Besides, losses in financial and banking stocks amid a weak rupee dragged the indices lower, traders said.

The 30-share BSE Sensex declined 479.26 points, or 0.63 per cent, to settle at 76,009.70. During the day, it tanked 579.28 points, or 0.75 per cent, to 75,909.68.

Similarly, the 50-share NSE Nifty dropped 118 points, or 0.49 per cent, to end at 23,913.70.

From the Sensex firms, Bharti Airtel, Trent, Tata Consultancy Services, Bajaj Finance, Titan and HDFC Bank were among the biggest laggards.

In contrast, Tech Mahindra, Eternal, Maruti and Adani Ports were among the winners.

The BSE MidCap Select index went up by 0.27 per cent, and the SmallCap Select index edged higher by 0.26 per cent.

Among sectoral indices, Consumer Durables dropped 0.86 per cent, Top 10 Banks (0.61 per cent), Realty (0.52 per cent), Hospitals (0.52 per cent), PSU Bank (0.47 per cent) and Bankex (0.31 per cent).

Utilities jumped 1.15 per cent, Metal (1.02 per cent), Power (0.86 per cent), and Capital Goods (0.52 per cent).

The rupee depreciated 47 paise to close at 95.73 (provisional) against the US dollar on Tuesday. Brent crude, the global oil benchmark, climbed 2.93 per cent to USD 98.96 per barrel.