On Tuesday, the BSE Sensex witnessed a significant dip below the 71,000 mark, leading to real estate and PSU stocks experiencing substantial losses. The real estate index recorded a decline of 4.6%, witnessing sharp reductions in stock prices. Notably, Oberoi Realty shares plummeted over 8%, while Lodha, Sobha, and Prestige saw declines of 8%, 8%, and 7% respectively.
The PSU stocks index faced a decline of more than 3%, primarily influenced by a downturn in Railway stocks. Ircon shares recorded a substantial 10% decline, along with Railtel (10%), RVNL (8%), Hudco (8%), Andrew Yule (8%), RITES (7%), Engineers India (7%), IRCTC (6%), GIC Re (6%), IRFC (6%), STC (6%), ITI (5%), and CONCOR (5%).
The broader markets were not immune to the fall in these stocks, with the mid-cap index experiencing a decline of over 2%.
The BSE Sensex saw a drop of more than 600 points on Tuesday, with banks leading the overall decline. Currently, the BSE Sensex is trading at 70,726.54 points, reflecting a decrease of 697.11 points or 0.98%.
Several prominent stocks were affected, including Indusind Bank (down 4%), Hindustan Unilever (down 3%), SBI (down 3%), Asian Paints (down 3%), and Axis Bank (down 3%). The market downturn underscores the current challenges and uncertainties affecting specific sectors and contributing to the broader decline in stock values.
(With Agency Inputs)
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