Sensex, Nifty settle lower ahead of Budget
The Hindu
Equity indices Sensex and Nifty close lower due to heavy selling pressure, global market trends, and company earnings.
Equity benchmark indices Sensex and Nifty ended lower on July 22, dragged down by heavy selling pressure in Reliance Industries and Kotak Mahindra Bank ahead of the Budget.
Besides, a weak trend in global equity markets also hit investors sentiment, traders said.
Falling for the second day in a row, the 30-share BSE Sensex fell 102.57 points or 0.13% to settle at 80,502.08. During the session, it tanked 504 points or 0.62% to 80,100.65.
The NSE Nifty dipped 21.65 points or 0.09% to 24,509.25. During the day, it dropped 168.6 points or 0.68% to 24,362.30.
Reliance Industries declined over 3% among the Sensex pack after the company reported a 5% drop in its June quarter net profit.
Kotak Mahindra Bank also fell more than 3% after its June quarter earnings failed to cheer investors.
ITC, State Bank of India, HCL Technologies and IndusInd Bank were the other big laggards.
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