Equities ended with heavy losses Tuesday as jittery investors offloaded positions after sentiments turned bearish globally on worries over slowing economy.In the final hours of trade, markets failed to recover and closed the day lower by 4% as compared to the yesterday’s close. While select stocks from the consumer durable and energy sectors garnered investors' interest, selling pressure was seen in stocks from the metal, power, pharma and software sectors. On the global front, the Asian indices closed weak and the European indices are witnessing negative trend.
The BSE Sensex closed 343 points lower, while the NSE Nifty closed lower by 116 points. The BSE Midcap and Smallcap indices closed in the green, up by 2% and 3% respectively. The rupee was trading at 49.72 to the dollar.
Taking cues from its global peers, Indian benchmark indices opened in the negative territory. Markets languished in the red throughout the day. However, bouts of buying and selling activity were witnessed during the day. Growing fear of prolonged recession and political uncertainty weighed heavy over indices and markets closed well below the dotted line. The overall market breadth was negative with losers outnumbering gainers by a ratio of 2.6 to 1 on the NSE. Wipro (down 8%) and NTPC (down 7%) led the pack of losers on the BSE today.
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