Share Market News: Sensex Slips 189 Points; Nifty At 22,600. IT, Metal Drag; M&M Up 4.5%
Share Market News: On the 30-share Sensex platform, TechM, JSW Steel, Tata Steel, HCLTech, Sun Pharma, TCS were among the prime losers
The two key equity benchmarks, Sensex and Nifty, on Tuesday plunged lower during the fag-end trading, mostly due to profit booking and fall in metal and IT shares. The BSE Sensex closed at 74,482, down 189 points. It hit an intraday high of 75,111. On the other hand, the NSE Nifty50, which hit a record high of 22,783 in intraday, ended 39 points lower at 22,605.
Stock update
On the 30-share Sensex platform, TechM, JSW Steel, Tata Steel, HCLTech, Sun Pharma, TCS were among the prime losers. On the flip side, M&M jumped 4.53 per cent higher, followed by PowerGrid, IndusInd Bank, Bajaj twins, Tata Motors.
In the broader markets, the BSE Midcap index jumped 0.4 per cent, while the Smallcap index ended on a flat note.
Sectoral update
Sectorwise, Nifty Auto advanced with over 1.82 per cent gains, followed by Nifty Realty which gained 1.45 per cent.
In the previous session on Monday, the BSE Sensex closed 941 points higher at 74,671, while the NSE Nifty50 settled 223 points higher at 22,643.
The BSE and NSE will remain closed on Wednesday on account of Maharashtra Day.
"Global markets remained mixed ahead of the US Fed policy meet as markets appear to have already factored in the slim chance of a near-term rate cut. Profit booking ensued towards a close given the sharp rally in the last couple of days and a holiday-led truncated week," Vinod Nair, Head of Research, Geojit Financial Services said.
Global market updates
In Asian markets, Seoul, Tokyo, and Hong Kong settled in the positive territory, while Shanghai ended lower. European markets were mostly trading lower. Wall Street ended with gains on Monday.
Foreign Institutional Investors (FIIs) were buyers on Tuesday as they bought equities worth Rs 1,071.93 crore on net basis, according to exchange data.
Rupee gains 4 paise
Meanwhile, the Indian rupee recovered 4 paise to 83.41 (provisional) against the US dollar on Tuesday, tracking fresh foreign capital inflows amid volatility in the domestic equity markets. According to forex analysts, the domestic currency initially faced resistance from a strong greenback and upward momentum in the crude oil prices but recovered the lost ground during the session on the back of a sharp rally in equities in the late afternoon trade.
At the interbank foreign exchange market, the local unit opened at 83.46 and traded between 83.41 and 83.52 against the greenback during the session. The domestic currency finally settled at 83.41 (provisional) against the dollar, registering a gain of 4 paise from its previous closing level. The Indian currency had settled 7 paise lower at 83.45 against the US dollar on Monday after losing 10 paise in the preceding session on Friday.
Trending News
Top Headlines
