Stock Market Today: Sensex, Nifty Trade In The Red Amid Volatility. Bajaj Finance Slips 3.85 Per Cent

Stock update: On the 30-share Sensex platform, Bajaj Finance (3.85 per cent), RIL, ITC, ICICI Bank, UltraCemco, Kotak Bank were among early losers

The two key equity benchmarks, Sensex and Nifty, on Tuesday were trading in the red amid volatility after opening with modest gains. At 9.57 am, the BSE Sensex was down 164 points to 71,777. On the other hand, the NSE Nifty50 was trading at 21,715, down 23 points.

On the 30-share Sensex platform, Bajaj Finance (3.85 per cent), RIL, ITC, ICICI Bank, UltraCemco, Kotak Bank were among early losers. On the flip side, HUL, JSW Steel, Tata Motors, Wipro, Tata Steel, Airtel emerged gainers.

In the broader market, the BSE Midcap index advanced 0.6 per cent, while the Smallcap gained 0.8 per cent.

Sectorally, except energy, all other indices are trading in the green, with IT, metal, realty, and oil & gas rose 0.5 per cent each.

On the IPO front, BLS E Services Rs 311 crore IPO will open for subscription on Tuesday. The offer closes on February 1.

In the previous session on Monday, the S&P BSE Sensex gained ended 1,241 points higher at 71,942, while the NSE Nifty50 shut shop 385 points higher at 21,738.

"Key upcoming events include the FOMC (Federal Open Market Committee) rate decision, interim budget, and the US jobs report," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

In the Asian market, Hang Seng slipped nearly 2 per cent amid Evergrande fall out. Nikkei, Kospi, and Taiwan were marginally up, while Shanghai Composite and Straits Times were down. In the US overnight, the S&P 500 and Dow Jones closed at record highs a day ahead of the start of two-day US Federal Reserve Policy meeting. The S&P 500 jumped 0.8 per cent, while Dow Jones added 0.6 per cent. Nasdaq soared over 1 per cent.

Global oil benchmark Brent crude climbed 0.22 per cent to $82.58 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 110.01 crore on Monday, according to exchange data.

Meanwhile, the rupee was trading in a narrow range against the US dollar in early trade on Tuesday, amid a negative trend in domestic equities. Forex traders said the rupee was trading in a narrow range as rising crude oil prices weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened at 83.14 against the dollar and then touched a high of 83.13, and a low of 83.15. On Monday, the rupee depreciated 5 paise to 83.16 against the US dollar.