Sensex, Nifty fall for 4th day on selling in IT shares, foreign fund outflows
Mumbai, Jul 14 (PTI): Benchmark stock indices Sensex and Nifty declined on Monday, extending the losing run to the fourth day amid selling in IT shares and foreign fund outflows.
The 30-share BSE Sensex dropped by 247.01 points or 0.30 per cent to settle at 82,253.46. During the day, it fell 490.09 points or 0.59 per cent to 82,010.38 but recovered some of the losses towards the close.
The 50-share NSE Nifty settled lower by 67.55 points or 0.27 per cent to 25,082.30.
Sensex has dropped nearly 1,460 points or 1.75 per cent and Nifty by 440 points or 1.73 per cent in the four days of fall since July 9.
Among Sensex firms, Asian Paints fell the most by 1.58 per cent. Tech Mahindra, Bajaj Finance, Infosys, HCL Tech, Tata Consultancy Services, Larsen & Toubro and Tata Motors were among the laggards.
However, Eternal, Titan, Mahindra & Mahindra and ITC were among the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,104.22 crore on Friday, according to exchange data.
The broader indices, however, outperformed the benchmark, with midcap and smallcap indices gaining between 0.71 per cent and 1.04 per cent.
"Consolidation continued in the domestic market as the tariff headlines and a subdued start to the earnings season are influencing investors to be more sensitive with valuation trading at 3 yrs high level,” Vinod Nair, Head of Research, Geojit Investments, said.
However, stock-specific action continues with sector-wise pick-up in healthcare, realty, consumer & discretionary, while IT remains the laggard due to the risk of earnings downgrades in FY26, Nair added.
An Indian commerce ministry team has reached Washington for another round of talks on the proposed bilateral trade agreement (BTA), which will begin on Monday, an official said.
"Markets started the week on a volatile note and extended their recent decline, ending nearly half a per cent lower. After an initial dip, the Nifty attempted to stabilize in early trade, but sustained pressure from heavyweight stocks dragged the index down as the session progressed," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
The BSE midcap gauge climbed 0.67 per cent and smallcap index edged higher by 0.57 per cent.
BSE Focused IT dropped 1.07 per cent, IT by 0.99 per cent, teck by 0.79 per cent and industrials by 0.24 per cent.
Realty surged 1.38 per cent, healthcare jumped 1.15 per cent, consumer discretionary (0.54 per cent), commodities (0.24 per cent) and power (0.24 per cent).
As many as 2,137 stocks declined while 2,054 advanced and 149 remained unchanged on the BSE.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory while Japan's Nikkei 225 index ended lower.
European markets were trading in negative territory. The US markets ended lower on Friday.
Wholesale price inflation (WPI) turned negative after a gap of 19 months, declining 0.13 per cent in June as deflation widened in food articles and fuel, along with softening in manufactured product costs, government data showed on Monday.
Retail inflation slipped to a more than six-year low of 2.1 per cent in June mainly due to subdued prices of food items, including vegetables, pulses, meat, and milk.
Global oil benchmark Brent crude climbed 0.99 per cent to USD 71.06 a barrel.
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Kerala woman on trek at Tadiandamol hills goes missing, search operations on
Bengaluru (PTI): A 36-year-old woman, who went trekking at Tadiandamol hills in Kodagu district, has gone missing inside the forest. Additional personnel and drone cameras have been deployed to search for her, Karnataka Forest Minister Eshwar Khandre said on Sunday.
He said Chief Minister Siddaramaiah, expressing concern about the young woman's disappearance, instructed that search operations be intensified.
G S Sharanya had come alone from Kerala for the trek and stayed at a private homestay in Kakkabe village.
She had gone to the high mountain range of Tadiandamol hills in Kodagu with a guide and 15 other trekkers on April 2. She went missing that afternoon. As soon as the matter was known, five teams of 50 people, including police, the anti-Naxal squad, a dog squad and forest personnel were formed, and are conducting searches, the minister's office said in a statement.
According to Khandre, CM Siddaramaiah expressed concern about the disappearance of the young woman who went on a trek and instructed that additional personnel be deployed for the search.
"Four additional teams of 40 personnel have been deployed today. A total of 9 teams are conducting the search operation. Honest efforts continue to find the missing young woman," he said.
Further noting that, as per reports, the young woman last contacted the homestay by phone on Thursday, stating she had lost her way, the minister said, "Search is being conducted based on her phone location. Local tribal people have also rushed to help, and sophisticated thermal drone cameras have been obtained with an additional team deployed starting today."
