Sensex, Nifty ends in red, IT and bank stocks lead to losses

Indian benchmark indices Sensex and Nifty tumbled after the former dropped by 189 points led by losses in index heavyweights Reliance Industries, TCS, and HDFC amid a negative trend in global markets.

After touching a lifetime high of 53,126.73 in the opening session, the 30-share BSE index ended 189.45 points or 0.36 percent lower at 52,735.59.

Similarly, the broader NSE Nifty settled 45.65 points or 0.29 percent down at 15,814.70. It touched a lifetime intra-day peak of 15,915.65.

Titan was the top loser in the Sensex pack, shedding over 1 percent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement, and Bharti Airtel.

On the other hand, Dr Reddy's, Tata Steel, Tech Mahindra, Sun Pharma, and HUL were among the gainers.

"After opening at a record high, the domestic markets slipped into the negative zone tracking cues from global peers due to a spike in COVID cases across Asia," said Vinod Nair, Head of Research at Geojit Financial Services.

PSU banks were in focus in anticipation of progress in privatisation, he said, adding that the market got volatile in the closing hour during the FM's announcement on fresh stimulus, though it was focused on COVID-19 relief package mainly for healthcare and stressed sectors, which will benefit the broader economy.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with losses. Stock exchanges in Europe were trading in the red in mid-session deals.

Meanwhile, international oil benchmark Brent crude was trading 0.16 percent lower at USD 75.26 per barrel.

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