Share Market Today: Market Breaks Pre-Open Rally, Sensex, Nifty In Red, Sectoral Indices Bleed

Among those trading in red, the Nifty Midsmall Healthcare index led with losses of 1.12 per cent, followed by the Private Bank and Financial Services indices

The stock market opened on a muted note on Tuesday as the indices attempted to recover from the last trading session. In the early hours, the key equity benchmarks traded in the green. As of 9:15 AM, the BSE Sensex stood above the 73,950 mark at 73,965.31, climbing nearly 70 points, while the NSE Nifty50 touched 22,469.70, gaining 27 points. 

However, markets soon reversed, and as of 9:58 AM, the Sensex stood at 73,773.19, declining 122.35 points, while the Nifty50 touched 22,423.80, slipping marginally by 19 points. 

Stock update

On the 30-share Sensex platform, Hindustan Unilever, ITC, Nestle, Asian Paints, and Tech M emerged as the gainers as the market opened, with HUL climbing more than 3.5 per cent. HCL Tech, PowerGrid, ICICI Bank, HDFC Bank, and Axis Bank were among the laggards. 

On the NSE, PowerGrid emerged as the major loser with the stock falling over 1 per cent in the early opening hour.

Sectoral update

In the broader market, the indices traded majorly in red. The Nifty Next 50 remained the major gainer on the list with an increase of 0.25 per cent. The Nifty Midcap 50 and Midcap 100 indices dominated in red and slipped 0.50 per cent and 0.32 per cent respectively. 

Sectorwise, the Nifty FMCG index emerged as the primary gainer and climbed 2.48 per cent, followed by Consumer Durables and Media indices. 

Among those trading in red, the Nifty Midsmall Healthcare index led with losses of 1.12 per cent, followed by Private Bank and Financial Services indices.

In the last trading session on Monday, the indices closed on an almost flat note amidst volatility. The S&P BSE Sensex settled at 73,895.54, inching up by 17 points, while the Nifty50 closed the session at 22,442.70, slipping 33 points.

Rupee Movement

The Indian rupee traded in a narrow range against the US dollar and appreciated 4 paise to touch 83.48 in the early trading hours on Tuesday. In the last trading session, the domestic unit closed at 83.52 against the greenback.

Macroeconomic Updates

Global oil benchmark, Brent crude futures, climbed 0.29 per cent to touch $83.57 per barrel. Foreign Institutional Investors (FIIs) remained net sellers in the capital markets on Monday and dumped equities worth Rs 2,168.75 crore, official exchange data revealed.