Share Market Opens: Indices Continue To Fall, Sensex Tests 81,400, Nifty Slips 100 Points
On the 30-share Sensex, Tata Motors, Adani Ports, and Hindustan Unilever emerged among the gainers. Meanwhile, Bajaj Finserv, Reliance, Bharti Airtel, Nestle, and HDFC Bank stood among the laggards
Stock Market Today: The Sensex and Nifty continued to slip on Tuesday morning. Around 9:40 AM, the BSE Sensex plunged 340 points and stood at 81,408.81, while the NSE Nifty50 declined a little over 100 points and traded at 24,566.20.
On the 30-share Sensex, Tata Motors, Tech M, HCL Technologies, Adani Ports, and Hindustan Unilever emerged among the gainers. Meanwhile, Bajaj Finserv, Reliance, Bharti Airtel, Nestle, and HDFC Bank stood among the laggards.
The broader markets displayed mixed signs. The Nifty Midcap 50 index gained 0.22 per cent, while the Nifty 100 index took a hit of 0.35 per cent.
Among the sectors, the Nifty Media and Realty indices dominated in green and climbed 1.78 per cent and 1.01 per cent respectively. On the other hand, the Nifty Financial Services and Oil & Gas indices declined 0.52 per cent each.
In the last trading session on Monday, the key benchmark indices settled trading in red. The Sensex closed trading at 81,748.57, plunging nearly 400 points, while the Nifty50 settled for the day at 24,688.25, taking a hit of 100 points.
"Globally markets will be looking forward to the FOMC (Federal Open Market Committee) outcome. Markets have already discounted a 25 bps rate cut and, therefore, the focus will be on the Fed chief’s commentary. Any departure from a dovish commentary will be negative from the market perspective. This is only a remote possibility," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Asian markets saw Seoul, Hong Kong, and Shanghai trading lower, while Tokyo remained in green. Foreign institutional investors (FIIs) dumped equities worth Rs 278.70 crore on Monday, official exchange data revealed. The global oil benchmark Brent crude slipped 0.14 per cent to touch $73.81 per barrel.
The Indian currency depreciated 1 paisa to reach a new lifetime low of 84.92 against the US dollar in early trade on Tuesday. The domestic unit was weighed down by foreign fund outflows and a weak trend in domestic equities.
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