Stock Market News Today: Sensex Slips 400 Points; Nifty Around 22,200 On Middle East Woes

Stock Market News Today: On the 30-share Sensex platform, Bajaj twins, IndusInd Bank, Infosys, L&T, TCS were among the losers

Stock Market News Today: In the broader markets, the BSE Midcap and Smallcap indices gained 0.15 per cent and 0.6 per cent, respectively.

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Stock Market News Today: The two key equity benchmarks, Sensex and Nifty, on Tuesday are trading lower amid escalation in the Iran-Israel war. At 10.15 am, the BSE Sensex sank 376 points to 73,024. On the other hand, the NSE Nifty50 was trading at 22,177, down 96 points.

Stock update

On the 30-share Sensex platform, Bajaj twins, IndusInd Bank, Infosys, L&T, TCS were among the losers. On the flip side, Tata Steel, Nestle, Titan, Tata Motors, and HDFC Bank emerged gainers. About 2,084 shares advanced, 829 shares declined, and 98 shares unchanged.

In the broader markets, the BSE Midcap and Smallcap indices gained 0.15 per cent and 0.6 per cent, respectively.

The volatility gauge, India VIX, advanced 2 per cent higher.

Sectoral update

Sectorwise, bank, IT, realty declined 0.5-1 per cent. On the other hand, oil & gas index rose 1 per cent.

In the previous session on Monday, the S&P BSE Sensex plunged 845 points to end at 73,400, while the NSE Nifty50 closed at 22,273, down 247 points.

"Market sentiment was impacted by higher-than-expected inflation data and tensions between Iran and Israel," said Prashanth Tapse, senior VP (Research), Mehta Equities Ltd.

Global Markets

Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, experienced a downturn in trading. Wall Street closed with losses on Monday.

Brent crude, the global oil benchmark, saw a modest increase of 0.58 per cent, reaching $90.62 per barrel.

Exchange data revealed that Foreign Institutional Investors (FIIs) sold off equities worth Rs 3,268 crore on Monday.

Rupee Falls 9 Paise

Meanwhile, the rupee faced depreciation, dropping by 9 paise to 83.53 against the US dollar in early trading on Tuesday. This decline was attributed to the strength of the American currency and higher crude oil prices. Forex traders noted a pessimistic sentiment among investors due to a negative trend in domestic equities and ongoing foreign fund outflows.

Interbank foreign exchange data indicated that the rupee opened at 83.51 against the dollar and hit a low of 83.53 during initial trading, marking a 9 paise decrease compared to its previous close. On Monday, the rupee had weakened by 6 paise, settling at 83.44 against the US dollar.