Stock Market Highlights: Nifty, Sensex Close Lower As ICICI, HDFC Bank Drag

The benchmark equity indices closed lower for the third consecutive session on Tuesday, dragged down by shares of HDFC Bank Ltd. and ICICI Bank Ltd.

The NSE Nifty 50 ended 174.1 points or 0.7% lower at 24,542.5, while the BSE Sensex closed 636.24 points or 0.78% down at 80,737.51. During the day, the Nifty fell 0.87% to trade at 24,502.15 and the Sensex declined 0.98% to trade at 80,575.09 mark.

Shares of Grasim Industries Ltd., Shriram Finance Ltd. and Bajaj Auto Ltd. were the top gainers.

Adani Ports & Special Economic Zone Ltd. and Adani Enterprises Ltd. were among the biggest laggards.

In terms of points contribution, Mahindra & Mahindra Ltd. and Grasim Industries Ltd. were among stocks that led the gains in the index.

HDFC Bank, ICICI Bank and Reliance Industries Ltd. dragged the index the most.

On the NSE, 12 out of the 15 sectors ended in the red, with the Nifty Energy, Oil & Gas and Finance being the top losers.

In the broader market, the BSE MidCap and SmallCap outperformed the Sensex as the MidCap ended 0.52% higher and SmallCap gained 0.07%.

The market breadth was skewed in favour of sellers, as 1,742 stocks advanced, 2,249 declined and 153 remained unchanged on the BSE.