Mkts back in red as investors stay on sidelines

Mumbai: Benchmark indices Sensex and Nifty ended lower in a highly volatile trade on Tues-day dragged down by blue-chip bank stocks and caution ahead of domestic and US inflation data.

The 30-share BSE Sensex dropped 368.49 points or 0.46 per cent to settle at 80,235.59. During the day, it hit a high of 80,997.67 and a low of 80,164.36, gyrating 833.31 points. The 50-share NSE Nifty went lower by 97.65 points or 0.40 per cent to 24,487.40.

Investors are also awaiting cues from the US-Russia talks on August 15. From the Sensex firms, Bajaj Finance, Trent, Hindustan Unilever, HDFC Bank, Eternal, Bajaj Finserv, ICICI Bank, and Bharat Electronics were among the laggards. However, Maruti, Tech Mahindra, Mahindra & Mahindra and NTPC were among the major gainers.

“The national market reacted with volatility to the ongoing developments in global trade tariffs, reflecting caution following the extension of the US-China tariff truce and ahead of key inflation data due later today. The US inflation figures with any signs of tariff-related impact could influ-ence the Fed’s policy stance,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.