Continuing the recent bear run, Sensex and Nifty opened lower on Tuesday but quickly recovered, led by gains in Infosys and ITC. FIIs remained net sellers, while global markets showed mixed trends. Gold and silver prices also declined for the second straight session amid US policy cues
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Continuing the bear run since the last few days, the benchmark equity indices Sensex and Nifty dropped in early trade on Tuesday. However, the buying in blue-chip stocks Infosys and ITC helped the markets recover the lost ground.
As reported by news agency PTI, the 30-share BSE Sensex dropped 289.72 points to 82,987.43 in early trade, whereas the 50-share NSE Nifty declined 112.45 points to 25,570.30.
However, within a few minutes, both benchmark indices bounced back and were trading in the green. The BSE benchmark quoted 116.08 points higher at 83,393.23, and the Nifty traded 12.90 points up at 25,695.65.
Top losers and gainers
Among the Sensex constituents, Infosys, ITC, HCL Technologies, Asian Paints, Tech Mahindra, Bharat Electronics Ltd, Tata Consultancy Services, IndiGo, Sun Pharmaceuticals, and Larsen & Toubro were the major gainers.
On the other hand, Eternal, Tata Steel, ICICI Bank, Bajaj Finserv, Kotak Mahindra Bank, Reliance Industries, UltraTech Cement, Bajaj Finance, Axis Bank, and Mahindra & Mahindra were among the top losers on Tuesday.
Global markets also opened in red
Along with the Indian stock market, Japan's Nikkei 225 index traded nearly 1 per cent lower. Also, the markets in China, Hong Kong and South Korea remained closed for the Lunar New Year holidays.
While the US equities market remained shut on Monday on account of Presidents' Day.
FIIs and DIIs
Foreign institutional investors sold equities worth Rs 972.13 crore on Monday, while domestic institutional investors purchased stocks worth Rs 1,666.98 crore, according to the exchange data.
Brent crude, the global oil benchmark, fell 0.41 per cent to USD 68.37 per barrel.
On Monday, the 30-share BSE Sensex jumped 650.39 points to close at 83,277.15, while the NSE Nifty advanced 211.65 points to settle at 25,682.75, as per PTI.
Gold and Silver
Gold and silver prices on Tuesday also declined for a second consecutive session, as investors analysed mixed US economic data and waited for cues on the US Federal Reserve’s policy path.
MCX gold April futures dipped 0.56 per cent to Rs 1,53,889 per 10 grams on an intraday basis. Meanwhile, MCX silver March futures declined 1.18 per cent to Rs 2,37,064 per kg, reported IANS.
(With inputs from PTI and IANS)
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