Sensex Sinks 100 Points, Nifty Holds 15,800 Amid Volatility In Early Trade

Powergrid, NTPC, Tech M, ITC, HCL Tech, Bajaj Finance, Sun Pharma, TCS, Adani Ports, BPCL, Divis Labs were the top winners on the bourses, upto 3 per cent higher

New Delhi: The key domestic benchmarks, Sensex and Nifty, on Tuesday started trade lower taking cues from the global markets amid the ongoing tensions between Russia and Ukraine.

At 10am, the 30-share Sensex platform down 100 points at 52,736, while the NSE Nifty was at 15,830, lower by 32 points.

On the Sensex, Maruti, HDFC twins, Asian Paints, Tata Steel, Kotak Bank, Axis Bank, IndusInd, and SBI were the top laggards, down up to 2 per cent. On the Nifty, Hindalco, Tata Motors, HeroMoto and Eicher Motors were the additonal losers.

Powergrid, NTPC, Tech M, ITC, HCL Tech, Bajaj Finance, Sun Pharma, TCS, Adani Ports, BPCL, Divis Labs were the top winners on the bourses, upto 3 per cent higher.

Midcap and smallcap shares were trading in the positive zone as Nifty Midcap 100 index rose 0.84 per cent up and small-cap shares gained 1.20 per cent.

Six out of the 15 sector gauges, compiled by the National Stock Exchange, were trading in the red in early trade. Nifty Bank and Nifty Auto were underperforming the index by falling as much as 1.09 per cent and 1.02 per cent, respectively.

"The whole global market closed in the red on Monday, including the Indian market, which sank dramatically down and lost about 2 per cent, following a persistent rise in petroleum and feeble global cues. Markets have been rocked by a sharp increase in crude oil prices, as investors fear more penalties against Russia," said Mohit Nigam, Head - PMS, Hem Securities.

Sensex had crashed 1,491 points to close at 52,843 on Monday; while Nifty had moved 382 points lower to settle at 15,863.

Bourses in Hong Kong, Shanghai and Tokyo were trading lower in mid-session deals.

Stock exchanges in the US closed in the negative territory, dropping sharply on Monday.

Meanwhile, international oil benchmark Brent crude jumped 2.50 per cent to $126.1 a barrel.

"US equities tumbled as investors continued to sell off stocks and stockpile safe-haven assets as concerns over the economic consequences of Russia's war in Ukraine intensified. The Dow Jones fell 2.4 per cent, while the S&P 500 lost 2.95 per cent. The tech-heavy Nasdaq slumped 3.6 per cent," according to Mitul Shah, Head of Research at Reliance Securities.

Foreign institutional investors continued their selling spree in Indian markets as they offloaded shares worth Rs 7,482.08 crore on a net basis on Monday, according to exchange data.