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Mumbai19 May. Shares of the Information and Technology (IT) sector had given initial strength to the stock market, but all the gains were lost due to selling in the last hours of trading and both the benchmark indices closed with a decline. In this sequence, BSE Sensex fell by 114 points on Tuesday while NSE Nifty also closed with a weakness of 32 points.

As concerns grew over the rupee falling to a record low, there was sharp selling in shares of big companies like HDFC Bank and Reliance Industries. Along with this, the high price of crude oil amid uncertainty at the global level also affected the market sentiment.

Sensex 75,200.85 closed on points

The 30-share Sensex of Bombay Stock Exchange (BSE) closed at 75,200.85, down 114.19 points or 0.15 per cent. At one time during trading, it had increased by 431.23 points or 0.57 percent to reach 75,746.27 points. Among Sensex companies, shares of 12 were in profit while 18 showed weakness.

nifty 23,618 closed on points

On the other hand, the National Stock Exchange (NSE) standard index Nifty based on 50 shares closed at 23,618 points with a decline of 31.95 points or 0.14 percent. Among the companies associated with Nifty, 24 stocks remained on the green mark while 26 stocks recorded a decline.

Kotak Mahindra Bank shares highest 2.51% remained at loss

Among the companies included in the Sensex group, shares of Kotak Mahindra Bank fell the most by 2.51 percent. UltraTech Cement, Titan, Adani Ports, Bharti Airtel and Sun Pharma were also major losers. On the other hand, gainers included Infosys, HCL Tech, Tech Mahindra, Eternal and Tata Consultancy Services.

Rupee hits lowest level against US dollar 96.60 slid till

The rupee slipped to an all-time low of 96.60 against the US dollar on Tuesday. However, later it stood at 96.52 (temporary). Global oil benchmark Brent crude fell 1.80 percent to $110 per barrel. According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 2,813.69 crore on Monday.