The Indian stock market has closed in red, government bank shares have fallen

Mumbai, October 14 (IANS). The Indian stock market closed with a decline in Tuesday’s trade session. The market fall was led by shares of PSU banks and government companies. Bank of Maharashtra closed with a 4.29 percent drop and UCO Bank fell 3.08 percent. At the end of the trade, Sensex was with 297.07 points or 0.36 percent at 82,029.98 and Nifty at 25,145,50, 81.85 points or 0.32 percent. On a sectoral basis, the Nifty PSU Bank index was the top loser with a 1.52 percent drop. After this, Nifty PSE index closed with a decrease of 0.91 percent, Nifty Realty 0.94 percent, Nifty FMCG 0.48 percent, Nifty Pharma 0.75 percent and Nifty IT 0.33 percent. Together with larvae, Midcap and Smallcap also decreased. The Nifty Midcap 100 index was 437.95 points or 0.75 percent at 58,324.40 and the Nifty Smallcap 100 index at 17,940,15, down 161.60 points or 0.89 percent. Maxhealth, Tech Mahindra, Wipro, Apollo Hospitals, Icici Bank, Bajaj Auto, They, Shriram Finance, Power Grid and Ongc were the profit in the Nifty Pack. Dr Reddy, Tata Steel, Bajaj Finance, Bel, Trent, Hindalco, TCS, NTPC, Axis Bank, Tata Motors and JSW Steel were the losers. Nilesh Jain, technical and derivative research analyst (Equity Research), Center Broking Limited, said the Nifty index once again faced resistance at about 25,300 points and that the sale of pressure was seen from there. Right now, Nifty seems to be consolidating in the region of 25,000-25.300. The next leg of the upward trend would require a decisive exposition of more than 25,300. The Indian stock market started in the green. At about 9.28 hours, the Sensex traded 189.95 points or 0.23 percent higher at 82,517, while the Nifty traded 67 points or 0.27 percent higher at 25,294,35. –IANS ABS/