Stock Market: Sensex Declines 238 Points; Nifty Settles Below 19,100. Realty Gains

Stock update: On the 30-share Sensex platform, Titan, Kotak Bank, HCL, Asian Paints, PowerGrid, TechM emerged gainers. M&M, Sun Pharma, Airtel, ICICI Bank, Reliance, IndusInd Bank were among losers

The two key equity benchmarks, Sensex and Nifty, on Tuesday finished in the negative territory as investors' sentiment remained jittery due to ongoing Israel-Hamas conflict, along with nervousness ahead of key US Fed’s meeting.

The S&P BSE Sensex closed 238 points lower at 63,875. On the other hand, the NSE Nifty50 closed at 19,080, down 61 points.

On the 30-share Sensex platform, Titan, Kotak Bank, HCL, Asian Paints, PowerGrid, TechM emerged gainers. On the downside, M&M, Sun Pharma, Airtel, ICICI Bank, Reliance, IndusInd Bank were among losers.

In the broader market, the BSE Midcap index rose 0.3 per cent, while the BSE Smallcap index ended flat.

Sectorwise, the Nifty Bank index declined 0.5 per cent, followed by the Nifty Pharma (down 0.4 per cent). On the flipside, the Nifty Realty gained 1.27 per cent. 

In the previous session on Monday, the BSE Sensex jumped 330 points to settle at 64,113, while the NSE Nifty50 ended at 19,141, up 94 points.

In Asia, Seoul, Shanghai, and Hong Kong settled lower while Tokyo ended in the green. European markets were trading in the positive territory. The US markets ended significantly higher on Monday.

Global oil benchmark Brent crude climbed 0.93 per cent to $88.31 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,761.86 crore on Monday, according to exchange data.

Meanwhile, Indian rupee settled flat at 83.26 (provisional) against the US dollar on Tuesday as weak domestic equity markets and sustained foreign fund outflows weighed on investor sentiments. However, a decline in crude oil prices supported the local currency amid geopolitical tensions in the Middle East, forex traders said.

At the interbank foreign exchange, in a range-bound trade, the rupee opened at 83.26 and finally settled at the same level as the American currency. During the day, the rupee witnessed range-bound trade, it saw an intra-day high of 83.25 and a low of 83.27 against the greenback. On Monday, the rupee traded on a flat note and settled 1 paisa lower at 83.26 against the US dollar.