Stock Market: Sensex Sinks 413 Points, Nifty Ends Below 18,300 Amid Volatility. PSU Banks Gain

Stock update: Among the 30-share Sensex platform, HDFC, Tata Motors, M&M, HDFC Bank, Kotak Bank, Maruti were the laggards

The two key equity benchmarks, Sensex and Nifty, on Tuesday closed in the negative zone amid volatility. The broader indices, however, bucked the trend and ended with notional gains.

The S&P BSE Sensex ended 413 points lower at 61,932. The Nifty 50 dropped 112 points to 18,287.

Among the 30-share Sensex platform, HDFC, Tata Motors, M&M, HDFC Bank, Kotak Bank, Maruti were the laggards. On the flip side, Bajaj Finance, NTPC, SBI, HUL, Bajaj Finserv, Titan were among the winners.

In the broader indices, the BSE Midcap and Smallcap indices gained up to 0.2 per cent.

The breadth too was marginally positive, with nearly 1,850 shares advancing versus 1,680 declining stocks on the BSE.

Among sectors, Auto index down 1 per cent, and healthcare, infra, bank, metal indices down 0.3-0.4 per cent, while PSU Bank index up 0.7 per cent.

In the previous session on Monday, the BSE Sensex, which went up around 500 points, finally closed 318 points higher to 62,345. On the other hand, the NSE Nifty50 gained 84 points to 18,399.

In Asia, Seoul, Tokyo, and Hong Kong markets ended in the green, while Shanghai settled lower. European markets were trading mostly in the green. The US market had ended with gains on Monday.

"The domestic benchmark's ascent towards record high was interrupted by selling pressure in heavyweight stocks, although small and mid-cap stocks outperformed. As anticipated, the Euro zone economy experienced a modest growth of 0.1 per cent QoQ in the Jan-Mar period, following a stagnant previous quarter. In the US market, cautious trading prevailed as debt-ceiling negotiations took precedence," said Vinod Nair, Head of Research, Geojit Financial Services.

Global oil benchmark Brent crude declined 0.65 per cent to $74.82 per barrel.

Foreign Institutional Investors (FIIs) were buyers on Monday as they bought equities worth Rs 1,685.29 crore, according to exchange data.

Meanwhile, Tthe rupee appreciated by 10 paise to 82.21 against the US dollar on Tuesday, as the American currency retreated from its elevated levels. Forex traders said significant foreign fund inflows and easing crude oil prices also supported the local unit.

At the interbank foreign exchange market, the local unit opened at 82.22 against the US currency and moved between a high of 82.16 and a low of 82.29 in the day trade. The local units settled at 82.21 (provisional), registering a gain of 10 paise over its previous close. On Monday, the rupee closed at 82.31 against the US currency.