Sensex closes down 127 points, Nifty ends below 12000; Bajaj Auto, TCS, Kotak Mahindra Bank top gainers

Mumbai: Equity benchmark indices closed in the red on Tuesday (December 3). The Sensex ends down 126.72 points, 0.31%, at 40675.45, while the Nifty 50 closed at 11994.20, down 54 points or 0.45%. The top gainer stocks were Bajaj Auto, TCS, and Kotak Mahindra Bank, while YES Bank, Tata Steel, Tata Motors DVR, and Vedanta were the top losers.

YES Bank, Indiabulls Housing Finance, Bharti Airtel and TCS were the most active shares. About 851 shares have advanced, 1592 shares declined, and 198 shares are unchanged. Nifty metal along with the PSU bank index shed over 2 percent each. 

During early hours on Tuesday, equity benchmarks slipped due to negative global cues after US President Donald Trump said that he will reinstate tariffs on the United States steel and aluminum imports from Brazil and Argentina.

At 10:15 am, the BSE S&P Sensex was down by 71 points to 40,731 while the Nifty 50 edged lower by 35 points at 12,014. Except for Nifty auto and FMCG, all sectoral indices at the National Stock Exchange were in the negative terrain with Nifty metal plunging by 1.76 per cent.

Among stocks, Tata Steel and JSW Steel dived by 3 per cent each while Vedanta was down by 2.5 per cent and Hindalco by 2.3 per cent. Bharti Infratel lost by 5.5 per cent to Rs 250.80 per share. The other prominent losers were Bharti Airtel, Yes Bank, IndusInd Bank, Grasim and ONGC. However, auto scrips showed gains with Bajaj Auto moving up by 1.2 per cent, Maruti by 0.9 per cent and Hero MotoCorp by 0.7 per cent. Britannia, Titan, State Bank of India and Kotak Mahindra Bank gained marginally.

Meanwhile, Asian shares tumbled on Tuesday after US President Donald Trump said he will impose tariffs against imports from Brazil and Argentina, recharging fears about global trade tensions, while weak US factory data added to the gloom.

In the Asian markets, Hang Seng index declined 0.17 percent. The Nikkei 225 closed 0.64 percent lower at 23,379.81 while the Topix index shed 0.45 percent to end its trading day at 1,706.73. South Korea’s Kospi slipped 0.38 percent to close at 2,084.07, while S&P/ASX 200 dropped 2.19 percent to close at 6,712.30. 

(With Agency Inputs)