Mumbai, 9 December. Indian stock markets witnessed a big decline for the second consecutive day on Tuesday. However, in the afternoon, buying in financial stocks and recovery in midcap-smallcap stocks helped the stock market recover some of its losses. Currently, due to profit booking in banking and oil stocks, BSE Sensex fell by 436.41 points and went below 84,700, while NSE Nifty fell below 25,850 due to a weakness of 121 points.

Sensex Closed at almost two-week low of 84,666.28

Bombay Stock Exchange (BSE)’s 30-share benchmark Sensex fell 436.41 points, or 0.51 per cent, to close at a two-week low of 84,666.28. During trading, at one point the index fell 719.73 points to 84,382.96 due to heavy selling in big private banks, oil and IT stocks. Among Sensex companies, shares of eight closed in the green while 22 were in decline.

Nifty fell 120.90 points and closed at 25,839.65.

On the other hand, the National Stock Exchange (NSE)’s 50-share sensitive index Nifty fell by 120.90 points or 0.47 percent and closed at 25,839.65 points. At one time during trading it had fallen by 232.55 points to the level of 25,728. Among Nifty companies, shares of 32 closed with weakness while 18 showed strength.

In fact, due to buying at lower levels in financial stocks, Nifty Bank closed almost flat with a fall of just 16 points. The broader market also made a strong recovery. BSE Midcap index closed with a gain of 0.60 per cent and Smallcap index with a gain of 1.27 per cent.

Investors earned Rs 72,000 crore

Due to the rise in midcap and smallcap shares, the total market capitalization of BSE listed companies increased to Rs 464.93 lakh crore, which was Rs 464.19 lakh crore on the previous trading day. In this way, the market cap of companies listed in BSE increased by about Rs 72,000 crore. In other words, investors’ wealth increased by about Rs 72,000 crore.

Mixed trend of sectoral index

At the same time, the trend of sectoral index was mixed. The biggest decline was seen in IT and telecom stocks. Indices of pharma and auto shares also remained in the red. On the other hand, strong buying was seen in consumer durables, PSU bank, media, chemical and realty stocks.

Asian Paints’ stocks fell the most by 4.61 percent.

Among the Sensex stocks, Asian Paints fell the most by 4.61 percent. Tech Mahindra, HCL Technologies, Tata Steel, Maruti Suzuki India, Sun Pharmaceuticals, Tata Consultancy Services, ICICI Bank, Bajaj Finance, UltraTech Cement, Mahindra & Mahindra and Tata Motors Passenger Vehicles were also major losers. However, shares of Eternal, Titan, Adani Ports, Bharat Electronics Limited, State Bank of India, Bajaj Finserv, NTPC and Bharti Airtel closed higher.

FIIs sold shares worth Rs 655.59 crore

According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 655.59 crore on Monday while domestic institutional investors (DIIs) bought shares worth Rs 2,542.49 crore. Global benchmark Brent crude fell 0.27 percent to $62.33 a barrel.