The S&P BSE Sensex and NSE Nifty 50 indexes fell for fourth day in a row to shut at lowest degree in two weeks on Tuesday weighed down by weak point in HDFC, Reliance Industries, Bharti Airtel, IndusInd Bank and Maruti Suzuki. Telecom shares had been among the many worst hit in commerce a day after telecom corporations Bharti Airtel and Vodafone Idea partly paid the adjusted gross income dues as directed by the Supreme Court. The Sensex fell as a lot as 445 factors to hit an intraday low of 40,610.95 and the NSE Nifty 50 index broke its psychological necessary degree of 12,000.
The Sensex ended 161 factors or 0.39 per cent decrease at 40,894 and the NSE Nifty 50 index fell 53 factors or 0.Four per cent to shut at 11,993.
Telecom shares had been among the many worst hit with the gauge of telecom index plunging 4.2 per cent a day after telecom firms made part-payment of adjusted gross income (AGR) dues to the federal government after the telecom division started issuing orders to telecom firms to clear their dues instantly or face “necessary action.” The telecom division began appearing robust after a livid Supreme Court hauled up telecom firms and authorities final Friday over unpaid dues regardless of its orders and threatened them with contempt of courtroom.
Banking shares additionally witnessed promoting strain on worries of rise in non-performing belongings (NPA) from the telecom sector. The Nifty PSU Bank and Nifty Private Bank indexes fell round 0.6 per cent every.
On the flipside, Nifty Media index was high gainer, up almost 2 per cent.
Bharti Infratel was high Nifty loser, the inventory plunged 11 per cent to shut at Rs 208. Yes Bank, Tata Motors, IndusInd Bank, Hindalco, Bharti Airtel, Grasim Industries, UPL and Maruti Suzuki had been additionally among the many losers.
On the flipside, Coal India, Zee Entertainment, Bharat Petroleum, Adani Ports, State Bank of India and Cipla had been among the many gainers.
The total market breadth was destructive as 1,612 shares closed decrease whereas 885 ended larger on the BSE.