By Malvika Gurung
Investing.com — The domestic market ended a volatile session on a muted note, extending losses to the fifth straight session on Tuesday.
Gains in industry heavyweights like Reliance (NS:), ITC and Infosys (NS:) were offset by financial, banking and auto stocks. Equity benchmark indices ended marginally lower by 0.05% and slipped 0.066% or 37.7 points.
The indices began the day on a positive note and remained in green almost throughout the session, later falling in the last hour. They have tumbled over 6% in the past two weeks.
Sectors under the Nifty umbrella ended mixed, with tumbling the most and shining. continued to buck the market trend and surged almost 1% on Tuesday, showing strength from the past few sessions amid the US dollar’s recent dominance in the global markets.
declined 0.67% with the banking giants like SBI (NS:), HDFC Bank (NS:) and ICICI Bank (NS:) falling up to 1%.
On the 30-scrip index Sensex, the Maharatna PSU PowerGrid Corp of India surged the most, while the Tata Group heavyweights Tata Steel (NS:) and Titan (NS:) were the worst performers.
VK Vijayakumar of Geojit Financial Services believes that as long as the US dollar continues its relentless rise, coupled with a sustained rise in US bond yields, the equity markets would remain under pressure.