Stock Market: Sensex, Nifty Trade In Red, Tata Consumer Falls 2%

On the 30-share Sensex platform, State Bank of India, Maruti, Bharti, Larsen & Toubro Ltd., and Axis Bank were trading in the green.

The two key equity benchmarks, Sensex and Nifty, on Thursday were trading in red as market opened for the day, on account of weak global markets and foreign fund outflows. At 9.31 am, the BSE Sensex was down 155 points to 65,725.13. On the other hand, the NSE Nifty50 was slipped to 19,559.20, down nearly 50 points. 

On the 30-share Sensex platform, State Bank of India, Maruti, Bharti Airtel, Larsen & Toubro Ltd., and Axis Bank were trading in the green. On the downside, IndusInd Bank, NTPC, Tata Steel, Asian Paints, JSW Steel, and Kotak Bank were among the early losers.

Tata Consumer Products registered the largest drop in the Nifty 50 index, with the stock losing more than 2 per cent. The company issued a clarification to the stock exchanges that it was not in talks with Haldiram's to acquire a majority stake in the snack making company. 

In the broader markets, the Nifty Midcap100 was up by 0.34 per cent at 40,422.45,  while the Nifty Smallcap 100 advanced 0.38 per cent.

Sectorwise, the Nifty Financial Services 25/50, Media, PSU Bank, Realty, Oil and gas were among the indices trading in green while Nifty Metal index was trading in red, registering a dip 0.56 per cent, followed by the Nifty IT index , down by 0.39 per cent.

 The BSE Sensex on Wednesday closed with a gain of 100 points at 65,880. On the other hand, the NSE Nifty50, settled at 19,611, up 36 points. The benchmark indices registered gains for the fourth consecutive day yesterday. 

The foreign institutional investors (FII) sold shares worth net Rs 3245.86 crore, while the domestic institutional investors (DII) offloaded shares worth net Rs 247.46 crore on September 6, as per the provisional data available on the NSE.

Meanwhile, the rupee depreciated 2 paise to hit a new all-time low of 83.15  against the US dollar in early trade on Thursday. Earlier on Wednesday, the rupee settled at the all-time low of 83.14 against the US dollar, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated on Wednesday as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee. Last month on August 21, the rupee touched the earlier lowest level of 83.13 against the US dollar.