Share Market Today: Sensex Slips 100 Points; Nifty Tests 24300 Amid Volatility. HDFC Bank Down 2%
Share market today: On the 30-share Sensex platform, HDFC Bank dropped 2.4 per cent. Tata Motors, Asian Paints, Bajaj Finance, Tata Steel, PowerGrid were the other losers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Tuesday are trading lower amid volatility. At 10 am, the BSE Sensex slipped 100 points to 79,549. On the other hand, the NSE Nifty50 was trading at 24,333, down 24 points.
Stock update
On the 30-share Sensex platform, HDFC Bank dropped 2.4 per cent. Tata Motors, Asian Paints, Bajaj Finance, Tata Steel, PowerGrid were the other losers. On the flip side, HCLTech, Axis Bank, TCS, Sun Pharma, IndusInd Bank, Airtel, SBI emerged early gainers.
Adani stocks
Nine of the 10 Adani group firms bounced back during the early trade after declining sharply during intra-day on Monday.
In the broader markets, the BSE Midcap index advanced 0.35 per cent while the BSE Smallcap index added 0.5 per cent.
Sectoral update
Among sectors, Nifty Financial Services was down 0.4 per cent, while the Nifty Realty index was up 0.4 per cent. Selling can also be seen in the auto, bank, oil & gas sectors.
In the previous session on Monday, the BSE Sensex dropped 57 points to close at 79,649, while the NSE Nifty50 fell 21 points to 24,346.
Retail inflation declined to a five-year low of 3.54 per cent in July mainly on account of subdued prices of food items, and base effect, according to official data released on Monday.
"Market's dismissal of the Hindenburg report as inconsequential is significant. The market which has been climbing all walls of worries has climbed this Hindenburg wall too, instilling confidence in retail investors and DIIs flush with money," said V K Vijayakumar, chief investment strategist at Geojit Financial Services.
Global update
In Asian markets, Seoul and Shanghai were quoting lower, while Tokyo and Hong Kong traded in the positive territory. The US markets ended on a mixed note on Monday.
Foreign Institutional Investors (FIIs) again turned sellers on Monday as they offloaded equities worth Rs 4,680.51 crore after a day's breather, according to exchange data.
Global oil benchmark Brent crude declined 0.90 per cent to $81.56 a barrel.
Rupee rises 3 paise
The rupee traded in a tight range appreciated 3 paise to 83.94 against the US dollar in early trade on Tuesday on positive domestic macroeconomic data. However, a muted trend in domestic equities and foreign fund outflows capped the gains for the local unit.
At the interbank foreign exchange, the rupee opened at 83.95 against the greenback and traded in a tight range. In initial trade it touched 83.94, registering a gain of 3 paise over its previous close.
On Monday, the rupee settled for the day lower by 2 paise at 83.97 against the American currency.
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