New Delhi: After a debacle on Monday, the stock market started trade on a positive note, providing some relief to the investors despite a lacklustre trend in global markets due to the Ukraine crisis.
At 10 am, the key benchmark indices, Sensex and Nifty, was hovering in the green zone. The BSE Sensex was up 125 points to 56513, while the NSE Nifty was at 16,860, up by 17 points.
However, Asian shares dropped as investors contemplated the implications of a potential imminent Russian invasion of Ukraine. The US has warned that Russia could soon invade Ukraine. Also, global indices have been in convulsions since an alarmingly high US inflation reading sparked speculation the Federal Reserve might raise rates in March.
Among the Sensex-30 constituents, TCS, Wipro, Bajaj Finserv, Tech M, L&T, Bharti Airtel, Bajaj Finance, HCL Tech, Titan, and HUL were the top gainers. Shree Cement, meanwhile, was the top gainer on Nifty.
On the flip side, the top losers across the two indices were Cipla, Eicher Motors, BPCL, IOC, Tata Steel, and ICICI Bank, down 0.3-3.7 per cent lower.
In the broader markets, the BSE Midcap and Smallcap indices were also in the positive territory, up 1 per cent each.
In the previous session, Sensex had crashed 1,747 points (3 per cent) to close at 56,406 on Monday, while Nifty had settled 532 points lower at 16,843.
Investors’ wealth plummeted by more than Rs 8.47 lakh crore on Monday as the stock market continued to be ravaged by weak global sentiments triggered by mounting tensions between Russia and Ukraine.
The domestic market remained in the red for the second straight session after witnessing a massive sell-off on Friday.
Global crude oil benchmark Brent Futures fell 0.61 per cent to $95.89 per barrel on Tuesday.
Foreign institutional investors (FIIs) were net sellers in the capital market on Monday, as they offloaded shares worth Rs 4,253.70 crore, according to stock exchange data.