Closing Bell: Sensex falls 435 points, Nifty closes at 17,957

Indian equity benchmark Sensex plunged over 430 points on Tuesday as investors earned profits in banking and financial stocks after yesterday’s sharp gains. Traders said investors are now more focused on the Russia-Ukraine conflict and rising oil prices.

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The 30-share BSE Sensex closed 435.24 points or 0.72% lower at 60,176.50. Likewise, the NSE Nifty slipped 96 points or 0.53% to close at 17,957.40.

From the sectoral indices, FMCG and power indices are up 1-3%, while the bank index is down 1%. BSE midcap and smallcap indices went up 1% each.

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Top losers from the Sensex pack were HDFC Bank down by 2.98%, Bajaj Finserv down by 2.14%, HDFC down by 2.12%, Kotak Mahindra down by 2.05%, Reliance Industries down by 1.41%, IndusInd Bank down by 1.34% and Bajaj Finance down by 1.33%.

Among the gainers were NTPC up by 3.40%, PowerGrid up by 2.48%, ITC up by 1.63%, Titan Company up by 1.38%, TCS up by 1.17%, and Nestle up by 0.78%.

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Out of 30 Sensex constituents, 17 shares closed lower while 13 closed in the green.

The rupee appreciated 25 paise to settle at 75.28 against the US dollar, as the US currency and crude oil prices retreated from recent high levels.

Banking and financial indices dropped sharply, up to 1.33%, while the power sector surged 3.38%.

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Among Asian markets, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a positive note.

European stock exchanges were trading in red in mid-session deals.

Brent Crude, an international oil benchmark surged 1.59% to USD 109.24 per barrel.

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Investors are closely watching the developments in Ukraine amid speculations that Russia could face even tighter economic sanctions.

According to stock exchange data, foreign institutional investors (FIIs) bought shares of more than Rs 1,150 crore on a net basis on Monday amid a rally in the market.