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Stock market closed in the red, Sensex slipped nearly 400 points, Nifty closed below 21,700.

Orhan Wadia
Orhan Wadia  - Editor
3 Min Read

Market Recap: Sensex and Nifty’s Tuesday Performance

The Indian stock market witnessed a downturn on Tuesday as both key equity benchmarks, Sensex and Nifty, shed the gains accumulated in the previous week. The S&P BSE Sensex, breaching the 72,000-mark, concluded nearly 400 points lower at 71,892.48. Simultaneously, the NSE Nifty 50 slid 81.65 points, closing below the 21,700-mark at 21,660.25.

Winners and Losers on Sensex Platform

On the Sensex platform, Sun Pharma, Bajaj Finance, Bharti Airtel, Reliance, and Bajaj Finserv emerged as significant gainers. Conversely, Kotak Mahindra Bank, UltraTech Cement, M&M, L&T, and ICICI Bank faced losses during the trading day.

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Broader Market Performance

In the broader markets, indices ended entirely in the red, with the exception of Nifty Microcap 250, which saw a 0.31% increase. Nifty Midcap Select and Nifty 100 indices experienced a decline of 0.54% and 0.32%, respectively.

Sectoral Movements

In the sectoral landscape, the Nifty Pharma index recorded a notable rise of 2.46%, followed by the Nifty Healthcare index, which increased by 1.91%. Conversely, Nifty Auto and Private Bank indices reported declines of 1.37% and 1.17%, respectively.

Previous Trading Session and Rupee Performance

In the prior trading session on Monday, Sensex and Nifty closed with lower highs. The S&P BSE Sensex concluded nearly 32 points higher at 72,271.94, while the NSE Nifty 50 closed marginally higher at 21,741.90.

The domestic rupee faced a setback, falling 10 paise to close at 83.31 (provisional) against the US dollar on Tuesday. This dip was attributed to a negative trend in domestic equities. At the interbank foreign exchange, the rupee opened at 83.28 against the greenback, touching 83.32 against the American currency before settling at 83.31 (provisional). The previous day had seen the Indian currency close at 83.21 against the US dollar.

Global Factors and Institutional Activity

On the global front, Brent crude futures, a key oil benchmark, traded 1.60% higher at $78.27 per barrel. Foreign institutional investors (FIIs) turned net sellers in the capital market on Monday, selling shares worth Rs 855.80 crore, as per exchange data.

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