Indices end volatile day in the red, PSU banks take a toll

Mumbai (Maharashtra) [India], July 23 (ANI): Equity indices bounced between gains and losses on Tuesday but ended in the red for the fourth consecutive day with Sensex slipping below the 38,000-mark.
The BSE S&P Sensex closed 48 points lower at 37,983 while the Nifty 50 was down 15 points at 11,331.
At the National Stock Exchange (NSE), sectoral indices were mixed. Nifty PSU bank tumbled 3.12 per cent to close at 2,908. Auto, financial service, metal, pharma and private bank too were in the red. But FMCG, IT and realty were in the positive zone.
State Bank of India dived 2.5 per cent to Rs 342.10 per share while Indiabulls Housing Finance was down 2.2 per cent. HDFC lost by 2.1 per cent, Adani Ports and Bajaj Auto by 1.7 per cent each, and HDFC Bank by 1.4 per cent. Coal India, Zee Entertainment, Grasim and Dr Reddy also suffered losses of over 1 per cent each.
However, the shares of Dewan Housing Finance Corporation (DHFL) closed over 14 per cent higher at Rs 60.05 apiece as the private lender reported receiving investor proposals for buying a stake in the company.
Power Grid, Kotak Bank, Hero MotoCorp, ITC, and Asian Paints gained between 1.8 and 2.9 per cent.
Meanwhile, Asian stocks traded slightly higher ahead of a busy week of US corporate earnings as well as potential developments in trade negotiations. Oil prices stabilised after recent gains amid tensions in the Persian Gulf.
Japan's Nikkei was up by 0.95 per cent while Hong Kong and Shanghai gained 0.34 per cent and 0.45 per cent respectively. Trading was thin across the region with volumes below average. (ANI)