Stock Markets Depressed. Sensex, Close Lower For Third Straight Day

Domestic stock markets closed lower on Tuesday, falling a third straight day. The S&P BSE Sensex ended 64.20 points, or 0.18 per cent, lower at 35,592.50 while the NSE's benchmark index Nifty finished at 10,652.20, down 9.35 points or 0.09 per cent from the previous close. The losses were led by energy, financial services and auto stocks. 

Major laggards on the Nifty were Eicher Motors, GAIL, Larsen & Toubro, Hindustan Petroleum and Power Grid Corporation, finishing between 5.82 and 1.28 per cent lower. Nineteen out of 50 Nifty stocks closed in the negative zone.

The Sensex moved in a range of 35,734.14-35,375.51 during the session, whereas the Nifty fell as much as 10,583.65. The index touched a high of 10,690.35.

On the 30-share Sensex, Yes Bank, Larsen & Toubro, HDFC and Reliance Industries were the top losers.

GAIL, Hindustan Petroleum and Reliance Industries led losses on Nifty energy, a sectoral index on the NSE, which closed 1.48 per cent lower.

Mortgage lender HDFC reported a net profit of Rs. 2,113.80 crore for the October-December period. That marked a decline of 60.1 per cent from a net profit of Rs. 5,300 crore reported for the three-month period ended December 31, 2017. Shares closed 0.95 per cent lower at Rs. 1,928.50 on the NSE.

Investors chose to maintain a cautious stance ahead of the interim budget due on February 1, according to analysts. 

Globally, investor sentiment turned jittery after the US charged Chinese telecom giant Huawei with a series of crimes including stealing trade secrets, a move that can escalate hostilities between the world's biggest economic powers and complicate efforts to negotiate an end to their bruising trade war, analysts said.

Meanwhile, the rupee was trading flat against dollar at 71.09. While, Brent crude futures rose 1.05 per cent to $60.44 per barrel. (Agencies)