Share Markets Reverse Sentiment, Sensex Over 150 Points Down, Nifty Nears 24,400

The Indian markets reversed their rally and started trading on Tuesday with a heavy sentiment. In early market hours, both benchmark indices, Sensex and Nifty, began trading on a muted note and slipped.

The BSE Sensex slipped about 40 points and dropped near 80,750, around 9:48 AM, while the NSE Nifty50 traded just above 24,450, clocking a marginal loss of 8 points.

On the 30-share Sensex platform, M&M, Bharti Airtel, Nestle, Hindustan Unilever, and Maruti emerged among the gainers in the market so far. Meanwhile the laggards were driven by Eternal, Adani Ports, Sun Pharma, NTPC, and Reliance. 

In the broader markets, indices traded entirely in red. The Nifty Smallcap50 dominated and declined 0.79 per cent in the session.

Sectorally, the Pharma and Realty indices drove the losses and plunged 1.19 per cent and 1.07 per cent respectively. On the other hand, the Auto index stood out and climbed 1.16 per cent in the session.

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Global Markets

This volatility in the markets could be attributed to mixed cues and geopolitical tensions. Additionally, investors remained cautious ahead of the upcoming interest rate decision from the US Federal Reserve. 

Globally, most Asian indices traded in green as sentiment was uplifted from the possibility of trade talks between the US and China. The US markets, however, ended trading on Monday in red. 

Meanwhile, the foreign investors continued to remain optimistic towards Indian equities. The foreign institutional investors (FIIs) infused Rs 497 crore in the segment on Monday, while domestic institutional investors (DIIs) poured in Rs 2,788 crore, official exchange data revealed.

VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said, "Sustained FII buying for the 13th day in a row, supported by weak dollar, has imparted resilience and support to the market despite the India-Pak tensions. But the uncertainty regarding the India-Pak tensions will keep the market range-bound in the near-term."

The global oil benchmark Brent crude jumped 1.56 per cent to touch $61.17 a barrel.

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