Share Market Today: Indices Bleed, Sensex Tanks Over 300 Points, Nifty Tests 23,250

On the Sensex, UltraTech Cement, Tata Motors, ITC, Sun Pharma, and HCL Tech emerged among the gainers. Meanwhile, the laggards included Zomato, Adani Ports, Reliance, Kotak Bank, and NTPC.

The Indian benchmark indices on Tuesday began trading on a volatile note. After beginning the session marginally higher, the BSE Sensex and NSE Nifty50 went on to erase their gains.

Around 9:50 AM, the Sensex took a hit of close to 250 points and traded at 76,825.62 in the session, while the NSE Nifty50 remained flat at 23,344.95. The indices remained anxious as Donald Trump officially reclaimed his role as the President of the United States. Further, the Q3 earnings season also weighed down on the sentiments in the market.

As the session progressed, the indices continued to bleed. Around 10:06 AM, the Sensex plunged more than 300 points to trade at 76,754.45, while the Nifty tanked a little over 50 points to fall under the 23,300 mark and stood at 23,285.65.

On the 30-share Sensex platform, UltraTech Cement, Tata Motors, ITC, Sun Pharma, and HCL Technologies emerged among the gainers. Meanwhile, the laggards in the session so far included Zomato, Adani Ports, Reliance, Kotak Mahindra Bank, and NTPC.

In the broader markets, the indices traded entirely in red. The Nifty Midcap Select index dominated among the laggards and tanked 0.96 per cent in the session.

Sectorally, the markets traded on a mixed note. The Nifty Consumer Durables index clocked a major fall of 2.22 per cent in the morning hours, while the Nifty Healthcare index drove the gains and traded higher by 0.64 per cent.

Sharing an outlook for the US markets in light of Donald Trump becoming the President, Arindam Mandal, Head of Global Equities at Marcellus, noted, "We anticipate the U.S. market to become gradually more broad-based over the next two to three years. This expectation stems from the belief that under Trump, there could be a general acceleration in small business recovery, which has struggled since 2021. Assuming the U.S. economy remains stable, this normalisation appears likely."

Meanwhile, the Indian rupee appreciated 17 paise to touch 86.28 against the US dollar in morning trade on Tuesday. This surge was attributed to the US dollar index and crude oil prices easing from their elevated levels.