Mumbai: The BSE Sensex declined 134.27 points to 79,514.65 in early trade on Tuesday. The NSE Nifty dipped 38.65 points to 24,308.35. The equity benchmark indices dropped dragged by blue-chip HDFC Bank and fresh foreign fund outflows. The mixed trends from global markets likely attributed to the decline in the domestic equities.
Sensex firms laggards: Power Grid Asian Paints, Bajaj Finance, HDFC Bank, Tata Motors, and Hindustan Unilever.
Sensex pack gainers: Tata Consultancy Services, Axis Bank,Bharti Airtel, and Sun Pharma.
Notably, almost all the Adani Group companies bounced back during the early trade after falling sharply during intra-day on August 12, 2024. Nine out of 10 firms were made a comeback today.
According to exchange data, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,680.51 crore on August 12.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said Hindenburg report against Sebi chief failed to negatively impact Indian equities as domestic investors continued with money inflow.
“Market’s dismissal of the Hindenburg report as inconsequential is significant. The market which has been climbing all walls of worries has climbed this Hindenburg wall too, instilling confidence in retail investors and DIIs flush with money,” he said.
Meanwhile, the Indian Rupee traded in a tight range to gain 3 paise to 83.94 against the US dollar in early trade on Tuesday. However, a muted trend in domestic equities and foreign fund outflows capped the gains for the local unit. The Indian currency on August 12 settled for the day lower by 2 paise at 83.97 against the US dollar.
World markets
Asian markets: Seoul and Shanghai traded lower while Tokyo and Hong Kong traded in Green. The US markets ended on a mixed note on Monday.
The BSE benchmark closed lower by 56.99 points at 79,648.92 on 12th August; the Nifty ended 20.50 points lower at 24,347.
Stock Market today: The BSE Sensex declined 134.27 points to 79,514.65 in early trade on Tuesday. The NSE Nifty dipped 38.65 points to 24,308.35. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
