Share Market Today: Indices Pare Gains. Sensex Falls 166 Points; Nifty Below 24,000

Share market today: On the 30-share Sensex platform, Bharti Airtel, M&M, SBI, HDFC Bank, Titan, IndusInd Bank were among the losers. JSW Steel, TechM, L&T, HCLTech, HUL, Reliance emerged gainers

Nifty Midcap 100 and Smallcap 100 indices also ended lower, down 061 per cent and 0.39 per cent, respectively.

Source : ABPLIVE AI

Share market today: The two key equity indices, BSE Sensex and the NSE Nifty50, gave up early gains and settled lower amid volatility on Tuesday. The BSE Sensex ended at 78,593, declining 166 points. It had surged 1.38 per cent to hit the day's high of 79,852 during intraday trade. On the other hand, the NSE Nifty50 settled 63 points down at 23,992. The benchmark earlier in the day climbed to the day's high of 24,382.

Stock update

On the 30-share Sensex platform, Bharti Airtel, M&M, SBI, HDFC Bank, Titan, IndusInd Bank were among the losers. On the other hand, JSW Steel, TechM, L&T, HCLTech, HUL, Reliance emerged gainers.

The fear index, India VIX, ended at 18.74 points, down 7.97 per cent, on Tuesday.

In the broader indices, with the Nifty Next 50 index being the top laggard, falling 0.92 per cent. Nifty Midcap 100 and Smallcap 100 indices also ended lower, down 061 per cent and 0.39 per cent, respectively.

Sectoral update

Sectorally, Financial Services, Banking, and Oil & Gas ended lower with a fall of up to 1.42 per cent. IT, Metal, Realty, Media, and FMCG settled in green, rising 0.84 per cent.

In the previous session, the BSE benchmark plummeted 2,222 points to settle at over a month's low of 78,759.40 on Monday, while the NSE Nifty slumped 662 points to close at 24,055.60.

"The domestic market tried to rebound mirroring the Asian markets. However, momentum was short-lived and closed below the threshold level of 24,000. Investors are watching the appreciating Yen, weak US economic data, and rising geopolitical tensions," Vinod Nair, Head of Research, Geojit Financial Services said.

The RBI Monetary Policy Committee started three-day deliberations on Tuesday. The RBI governor will announce the bi-monthly policy on Thursday.

Global update

Japan's benchmark Nikkei 225 share index soared as much as 10.7 per cent early Tuesday, a day after it plunged the most in 37 years. European markets were trading in the negative territory. The US markets ended with deep cuts on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 10,073.75 crore on Monday, according to exchange data.

Global oil benchmark Brent crude climbed 0.30 per cent to $76.52 a barrel.

Rupee gains 16 paise

The rupee recovered from its all-time low level and settled for the day 16 paise higher at 83.93 (provisional) against the US dollar on Tuesday, on suspected intervention by the Reserve Bank.

At the interbank foreign exchange market, the local unit opened at 83.92 and touched an intra-day high of 83.84 and a low of 83.97 against the dollar during the session.

It finally settled at 83.93 (provisional) against the American currency, up 16 paise from its previous close. On Monday, the rupee slumped 37 paise to settle at an all-time low of 84.09 against the US dollar.