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Domestic shares ended lower for a second consecutive session on Tuesday, as losses in lenders hit by a Morgan Stanley downgrade and drugmakers hurt by US Food and Drug Administration's regulatory action offset gains in index heavyweight ITC Ltd.
The broader NSE index ended 5.35 points or 0.1 per cent lower at 9,121.50, while the benchmark BSE index also closed 33.29 points or 0.1 per cent lower at 29,485.45.
Among BSE sectoral indices, healthcare index fell the most by 1.44 per cent, followed by banking 0.59 per cent, auto 0.43 per cent and PSU 0.33 per cent. On the other hand, realty index was up 1.35 per cent, FMCG 1.01 per cent, IT 0.33 per cent and TECk 0.24 per cent.
Top five Sensex gainers were ITC (+1.97%), ONGC (+1.6%), Infosys (+1.12%), L&T (+0.73%) and HUL (+0.35%), while the major losers were Dr Reddy's (-4.36%), Axis Bank (-3.28%), GAIL (-1.41%), Maruti (-1.4%) and Reliance (-1.29%).
Drug makers slumped on worries of regulatory action from the US Food and Drug Administration.
Divi's Laboratories Ltd fell as much as 20 per cent following an import alert issued by the USFDA on products manufactured at its Visakhapatnam unit
Shares of Avenue Supermarts Ltd more than doubled in value on their trading debut. Analysts expect strong potential for its supermarkets and retail stores.
Bharti Infratel was up more than a per cent after Nettle Infra Investments bought about 21.63 per cent stake in co from promoter Bharti Airtel.
Earnings season eyed
Analysts expect a period of consolidation ahead as investors focus on individual stock movements as they wait for the earnings season to start in mid-April.
“The markets have been trending up since December. I think this week market may just cool off,” said Sacchidanand Uttekar, equity technical analyst at Motilal Oswal Securities.
“There will be profit-booking in major index-contributing stocks including Reliance Industries.”
The broader NSE index had closed at a record high last week.
Asian shares
Asian shares hit 15-month highs on Tuesday, while the dollar and US bond yields were on the back foot on the prospect of a less-hawkish Federal Reserve policy trajectory.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per,cent to 15-month highs, with tech-heavy Seoul and Taipei shares hitting two-year highs while Hong Kong's Hang Seng scaled 1 1/2-year highs.
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