Share Market Today: The two key equity benchmarks, Sensex and Nifty, on Tuesday closed flat after a record-breaking rally, as investors remained on the sidelines awaiting further triggers. The two indices erased their intra-day gains due to fag-end selling. The 30-share BSE Sensex fell 33 points to settle at 76,456. On the other hand, the NSE Nifty50 closed marginally up by 6 points at 23,265. Sensex and Nifty hit their all-time high levels in the early trade on Monday.
Stock update
On the 30-share Sensex platform, Kotak Bank, Asian Paints, ITC, Reliance, Sun Pharma, Axis Bank emerged losers. On the flip side, L&T, Tata Motors, Maruti, M&M, UltraCemco, NTPC were among the gainers. A total of 2,468 stocks advanced on the BSE while 1,390 declined.
In the broader markets, the BSE Midcap index gained 0.7 per cent, while the Smallcap index added nearly 1 per cent.
Sectoral update
Sectorwise, bank, FMCG, healthcare, and metal indices closed in the red due to selling pressures, while capital goods, oil & gas, and realty rose 1 per cent each.
In the previous session on Monday, the BSE Sensex closed 203 points lower at 76,490. The NSE Nifty50 closed 31 points down to 23,259 per cent.
Global update
In Asian markets, Seoul and Tokyo settled higher, while Shanghai and Hong Kong ended lower. European markets were trading lower. US markets ended in positive territory on Monday.
"After a notable rebound, the domestic market has stabilised, awaiting further triggers. With the resolution of uncertainties in government formation, attention has shifted back to global and domestic indicators. Concerns have risen regarding potential US rate cuts following last week's strong US job data, leading to an increase in US bond yields," Vinod Nair, Head of Research, Geojit Financial Services, said.
Global oil benchmark Brent crude declined 0.32 per cent to $81.37 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,572.38 crore on Monday, according to exchange data.
Rupee slips 6 paise
Meanwhile, the rupee settled for the day lower by 6 paise at 83.56 (provisional) against the US dollar on Tuesday, weighed down by a muted trend in domestic equities and the strength of the American currency in overseas markets.
Forex traders said the US dollar strengthened due to increased demand from oil importers and stronger-than-expected economic data from the US. Moreover, elevated crude oil prices also weighed on the local unit.
At the interbank foreign exchange, the local unit opened at 83.49 and saw an intra-day low of 83.58 and finally settled for the day lower by 6 paise at 83.56 (provisional) against the American currency. On Monday, the rupee settled lower by 10 paise at 83.50 against the US dollar.