Stock Market Today: Sensex Sheds 195 Points; Nifty Around 22,350. IT, FMCG Slip, Autos Gain

Stock update: On the 30-share Sensex platform, Tata Motors, Airtel, SBI, Sun Pharma, NTPC, M&M emerged gainers. On the down side, Bajaj twins, Infosys, Nestle, TCS, Wipro were among the losers

The two key equity benchmarks, Sensex and Nifty, on Tuesday ended lower following tepid global mood and profit booking among IT shares. The S&P BSE Sensex declined 195 points to close at 73,677. On the other hand, the NSE Nifty50 settled at 22,356, down 49 points.

On the 30-share Sensex platform, Tata Motors, Airtel, SBI, Sun Pharma, NTPC, M&M emerged gainers. On the down side, Bajaj twins, Infosys, Nestle, TCS, Wipro were among the losers.

In the broader markets, the BSE Midcap and Smallcap indices closed in the red with 0.17 per cent and 0.63 per cent down, respectively.

Sectorwise, Nifty IT index sank 1.6 per cent, followed by Nifty Media 1.4 per cent, and the Nifty FMCG 1 per cent. On the flip side, Nifty Auto advanced 1.3 per cent.

In the previous session on Monday, the S&P BSE Sensex settled 66 points higher to 73,872, while the NSE Nifty50 was closed at 22,406, up 27 points.

"Markets traded volatile amid mixed cues and ended with a modest cut. After the flat start, Nifty drifted lower in the first half however a sharp recovery in the select heavyweights; especially from the banking pack trimmed the losses," Ajit Mishra, SVP - Technical Research at Religare Broking Ltd said.

In the realm of Asian markets, Seoul, Tokyo, and Hong Kong saw declines, while Shanghai saw gains. European markets were experiencing a downturn. Similarly, US markets closed in negative territory on Monday.

The global oil benchmark, Brent crude, experienced a slight decline of 0.21 percent, resting at $82.63 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 564.06 crore on Monday.

Meanwhile, on Tuesday amidst a robust US dollar against major currencies abroad and a negative performance in equity markets, the rupee managed a marginal increase of 1 paisa to settle at 82.89 (provisional) against the US dollar.

Forex traders noted that the Indian currency continued to face pressure due to volatile crude oil prices and persistent outflows of foreign funds.

In the interbank foreign exchange market, the rupee initiated trading at 82.90 and fluctuated between 82.88 and 82.93 against the US dollar throughout the day. Ultimately, it settled at 82.89 (provisional), marking a 1 paisa gain from its previous close. On Monday, the rupee had closed 1 paisa lower at 82.90 against the US dollar.