Share Market Today: Sensex Sheds 400 Points; Nifty Below 24200. Tata Motors Slips 2.8%

Share Market Today: On the 30-share Sensex platform, Tata Motors, Airtel, M&M, Maruti, IndusInd Bank, Sun Pharma emerged losers

Share Market Today: Except bank and capital goods, all other sectoral indices are trading in the negative zone.

Source : ABPLIVE AI

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday declined in early session following a muted start and continuous foreign fund outflows. At 10.40 am, the BSE Sensex dropped 429 points to 79,575. On the other hand, the NSE Nifty50 was trading at 24,183, down 156 points.

Stock update

On the 30-share Sensex platform, Tata Motors, Airtel, M&M, Maruti, IndusInd Bank, Sun Pharma emerged losers. On the flip side, NTPC, ICICI Bank, L&T, HDFC Bank, SBI, Nestle are among the gainers.

Sectoral update

Except bank and capital goods, all other sectoral indices are trading in the negative zone.

In the previous session on Monday, the BSE Sensex gained 603 points to close at 80,005. On the other hand, the NSE Nifty50 settled at 24,339 rising 158 points.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,228.08 crore on Monday, according to exchange data. "Caution prevails due to upcoming US jobs data and the presidential election, alongside heavy FII outflows," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Global update

In Asian markets, Seoul and Shanghai were quoting lower, while Tokyo and Hong Kong traded in the green. The US markets ended in positive territory on Monday.

Global oil benchmark Brent crude traded 0.18 per cent higher at $71.55 a barrel.

Rupee trades flat

The rupee opened on a flat note and depreciated 1 paisa to 84.08 against the US dollar in initial deals on Tuesday, as persistent foreign fund outflows and the strength of the American currency in the overseas market dented investor sentiments.

Forex traders said a muted trend in domestic equities and strong dollar weighed on the local unit, while easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels.

At the interbank foreign exchange, the rupee opened at 84.08 against the greenback. In the initial trade, it touched 84.07. On Monday, the rupee settled 1 paisa higher at 84.07 against the US dollar. The local currency touched its lowest closing level of 84.10 against the dollar on October 11.