Stock Market Today: Sensex Sheds 378 Points; Nifty Around 20,900 Ahead Of US Inflation Data. Metals Shine

Stock update: On the 30-share Sensex platform, Sun Pharma, Maruti, IndusInd Bank, Titan, Reliance, NTPC emerged losers. UltraCemco, Axis Bank, JSW Steel, TCS, Wipro, Bajaj Finance were among gainers

In the broader markets, the BSE Midcap index shed 0.4 per cent and Smallcap index dropped 0.2 per cent.

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The two key equity benchmarks, Sensex and Nifty, on Tuesday ended lower as investors remained worried ahead of US inflation data and global central banks meeting. The S&P BSE Sensex declined 378 points to 69,551. On the other hand, the NSE Nifty50 shut shop 91 points lower at 20,906.

On the 30-share Sensex platform, Sun Pharma, Maruti, IndusInd Bank, Titan, Reliance, NTPC emerged losers. On the flip side, UltraCemco, Axis Bank, JSW Steel, TCS, Wipro, Bajaj Finance were among gainers.

In the broader markets, the BSE Midcap index shed 0.4 per cent and Smallcap index dropped 0.2 per cent.

Among sectors, except for Metal, all other sectoral indices closed in the red, with capital goods, oil & gas, power, and realty declined 1 per cent each.

In the previous session on Monday, the S&P BSE Sensex closed 103 points higher at 69,929, while the NSE Nifty 50 ended at 20,997, up 28 points.

"Nifty snapped its two-day rally and closed lower in a volatile session. Global equity markets posted moderate moves (mostly positive), with investors reluctant to make big bets in the buildup to this week’s major risk events of US Inflation data and Central Bank meetings," said Deepak Jasani, Head of Retail Research, HDFC Securities.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled in the postitve territory. European markets were trading mostly in the green. The US markets ended with gains on Monday.

Global oil benchmark Brent crude climbed 0.39 per cent to $76.33 a barrel on Tuesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,261.13 crore on Monday, according to exchange data.

Meanwhile, Indian rupee consolidated in a narrow range and settled 1 paisa lower at 83.38 (provisional) against the US dollar on Tuesday, as investors preferred to remain cautious ahead of the domestic inflation data release and upcoming US Fed meeting. Besides, selling pressure in the domestic equity markets dented market sentiments, forex traders said. However, a weaker American currency against major currencies overseas restricted the loss in the local currency, they added.

At the interbank foreign exchange market, the local unit opened at 83.36 and settled at 83.38 (provisional) against the greenback, registering a loss of 1 paisa from its previous close. During intra-day, the rupee touched a high of 83.35 and hit the lowest level of 83.39.