04 August,2026 10:54 AM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic equity benchmark indices Sensex and Nifty started on a mixed note in the morning trade on Tuesday following introduction of a new auction mechanism for shares having futures and options (F&O) contracts.
The Closing Auction Session (CAS) in the equity cash segment became operational on Monday, introducing a new auction-based mechanism for determining the closing prices of eligible stocks in a move aimed at making the price discovery process more transparent and robust, according to news agency PTI.
The 30-share BSE Sensex jumped 76.38 points or 0.10 per cent to 78,715.41 in early trade. The 50-share NSE Nifty declined 185.35 points or 0.75 per cent to 24,588.85.
On Monday, due to the CAS mechanism, the benchmark indices ended with an aberration. The Sensex surged 544.39 points, or 0.70 per cent, to settle at 78,639.03 while the Nifty gained 390.70 points, or 1.60 per cent, to end at 24,774.30.
"The 390-point spurt in the Nifty yesterday caused primarily by the new closing auction session for determining the closing prices of stocks in the F&O segment is expected to normalise today. The sharp spike in Nifty vis-a-vis Sensex was an aberration caused by the new CAS, and therefore, investors need not attach much importance to this one-day aberration," VK Vijayakumar, Chief Investment Strategist, Geojit Investments said.
From the Sensex pack, Asian Paints, Trent, Tata Steel, Bharat Electronics, Mahindra & Mahindra were among the major gainers, with their stocks trading over 1 per cent higher in early deals.
Infosys, Hindustan Unilever, HDFC Bank Reliance and Tech Mahindra were among the laggards in the early trade.
"Asian markets are trading mixed this morning, while Brent crude has eased nearly 5 per cent to around USD 83 per barrel, providing a meaningful positive for India through lower inflationary pressures, an improved current account outlook and support for the rupee," Rajesh Palviya, Head of Research, Axis Direct said.
Brent crude, the global oil benchmark, traded 1.36 per cent higher at USD 84.91 per barrel, while in Asian markets, South Korea's KOSPI, Japan's Nikkei 225 index and Hong Kong's Hang Seng index were quoting lower, as per PTI. Foreign Institutional Investors (FIIs) bought equities worth Rs 922.26 crore on Monday, according to the news agency.
"FIIs have been buyers in the cash segment during the last five days and consequently this has triggered sharp short-covering. In the near-term, the market is likely to rally further led by the large-caps," Vijayakumar said.
(With inputs from PTI)
