Sensex Closes Below 50,000, Nifty Holds 15,000; Tata Motors, HDFC Drag

Tata Motors was in focus after its consolidated loss narrowed to Rs 7,605 crore in the fourth quarter ended March 2021 from Rs 9,894.25 crore in the corresponding quarter last year

The domestic markets lost more than half a per cent in late-afternoon trading to end near intra-day lows due to profit-booking post the rally in the past two sessions. The BSE Sensex ended the day at 49,902, lower by 290.55 points or 0.58 per cent and the NSE Nifty settled at 15,030.10, down 77.90 points or 0.52 per cent. The broader markets, however, outperformed their largecap peers, with the BSE Midcap index and BSE Smallcap index gaining around half a per cent each. The benchmark indices were range-bound through the day, albeit amid bouts of choppiness, before a wave of selling pressure towards the fag end of trade dragged the BSE down by nearly 450 points from the day's high to hit a low of 49,831, before settling at 49,902. The BSE index had gained around 3 per cent in the past two trading sessions alone. Meanwhile, the rupee erased intra-day gains and trading near the day's low at 73.14 per dollar, amid weak trade seen in the domestic equity market. It opened flat at 73.02 per dollar against previous close of 73.04. On the stock-specific front, Tata Motors was in focus after its consolidated loss narrowed to Rs 7,605 crore in the fourth quarter ended March 2021 from Rs 9,894.25 crore in the corresponding quarter last year. Tata Motors was the top loser among NSE stocks, shaving off more than 5 per cent to end at Rs 314. HDFC, M&M and JSW Steel were the other significant losers on the NSE.