Benchmark indices Sensex and Nifty ended the session in the red on Tuesday despite a positive trend in global markets and easing crude oil prices, dragged by IT, financials and capital goods stocks. The 30-share BSE Sensex dropped 329.91 points or 0.44 per cent to settle at 74,529.08. During the day, the benchmark hit a high of 75,038.93 and a low of 74,423.71, gyrating 615.22 points. The 50-share NSE Nifty ended with a drop of 85.30 points or 0.36 per cent and closed the session at 23,329. Similarly, the broader market ended the session mixed. While the BSE MidCap Select Index shed 50.37 points or 0.27 per cent, the BSE SmallCap Select Index fell 19.82 points or 0.22 per cent.ย
Among sectoral indices, Nifty IT and Nifty FMCG fell 0.86 per cent and 0.53 per cent, respectively. However, Nifty Realty gained 0.90 per cent.ย
“Markets reversed their early gains on Tuesday and ended lower amid heightened volatility, with weakness in IT stocks offsetting the positive impact of softer crude prices and easing bond yields. After opening on a positive note, the benchmarks faced selling pressure at higher levels and traded with a negative bias through the session. The Nifty closed at 23,329, down 0.36 per cent, while the Sensex settled at 74,529.08, lower by 0.44 per cent. On the sectoral front, IT remained the key drag, followed by FMCG and banking, while realty ended with modest gains. Meanwhile, the broader indices traded mixed and eventually ended largely unchanged, indicating relative resilience despite the weakness in the benchmark indices,” said Ajit Mishra, SVP โ Research, Religare Broking.
Rupee trades stronger
Meanwhile, the Indian Rupee traded positive by around 0.26% at 95.58, supported by strong profit booking in crude prices following reports of a possible reopening of the Strait of Hormuz within seven days, subject to Iranโs conditions.
Asian markets today
In Asian markets, South Korea’s Kospi, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended marginally higher. European markets were trading in positive territory. US markets ended significantly higher on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 576.20 crore on Monday, according to exchange data.
On Monday, the Sensex jumped 564.03 points, or 0.76 per cent, to settle at 74,858.99. Rising for the fourth day, the Nifty was up 67.90 points, or 0.29 per cent, to end at 23,414.30.
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