Sensex, Nifty Extend Declines For Second Day As Metal Stocks Drag
(RTTNews) - Indian shares fell in cautious trade on Tuesday, with metal stocks leading losses after Tata Steel posted a surprise loss of Rs 2,501.95 crore in the quarter ended December 31 on account of higher expenses.
Caution ahead of Fed Chair Jerome Powell's speech later in the day and the Reserve Bank of India's monetary policy decision due on Wednesday also served to keep underlying sentiment cautious.
The benchmark S&P/BSE Sensex moved in a narrow range before ending the session down 220.86 points, or 0.37 percent, at 60,286.04.
The broader NSE Nifty index settled 43.10 points, or 0.24 percent, lower at 17,721.50.
Tata Steel led losses to close 5.2 percent lower in the Nifty pack, while Maruti Suzuki India, Hero MotoCorp, ITC and Hindalco lost 2-4 percent.
On the positive side, IndusInd Bank, Kotak Mahindra Bank and Dr Reddy's Laboratories rose 1-2 percent.
Adani Ports gained 1.9 percent despite the company reporting a 16 percent fall in Q3 consolidated net profit.
Adani Enterprises jumped more than 15 percent, while Adani Total Gas and Adani Green Energy both lost about 5 percent.
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