Stock market ended in red on Tuesday as the BSE sensex fell more than 360 points to close at 72,470 main on week trends in the tech and IT sector.
The 30-share BSE Sensex closed the day at 72,470.30, down by 361.64 points or 0.50 per cent. Similarly, the NSE Nifty ended negatively at 22,020.85, down by 75.90 points or 0.34 per cent. However it holds on to 22,000 level.
From the Sensex pack, Bajaj Finance, LT, NTPC, Tata Motors, and Axis Bank emerged as the major gainers, while IT stocks and PowerGrid, Bharti Airtel, Wipro, Kotak Bank, and HDFC Bank suffered losses.
The market adopted cautions approach and experts however felt that there is no trigger for either side and market continues to keep watch on Federal Reserve’s approach towards fighting inflation and outcome of its committee on policy rates.
While key data such as US GDP and inflation during the week may provide some clues on future rate cut paths, the fiscal year-ending truncated week, coupled with reduced trading volumes and monthly expiry, are likely to contribute to volatility in the coming trading sessions.
