Markets Remain Volatile, Sensex Tests 81,900, Nifty Nearly 50 Points Down

The Indian stock markets continued to display mixed indicators and traded on Tuesday on a muted note. While the benchmark indices, Sensex and Nifty, remained in the positive territory, the gains logged were marginal.

As of 9:39 AM, the BSE Sensex inched up over 20 points and traded under 82,100, while the NSE Nifty50 rose merely 4 points and tested 24,950.

However, as markets progressed, indices showed their volatility. Around 9:43 AM, the Sensex declined more than 50 points and slipped under 82K, while the Nifty fell over 20 points and dropped closer to 24,900.

On the 30-share Sensex, Tata Steel, Infosys, ITC, Tech M, and HCL Tech emerged among the gainers. Meanwhile, the laggards included HDFC Bank, Bajaj Finance, M&M, Eternal, and Titan.

Broader Markets

In the broader markets, the indices traded almost entirely in red. The Nifty Financial Services led the losses and tanked 0.60 per cent. Sectorally, the IT index led the gains and jumped 1.20 per cent, followed by the Midsmall IT & Telecom index which climbed 1.06 per cent. The Financial Services 25/50 index was the biggest laggard so far and fell 0.53 per cent.

In Asian markets, indices across China, Japan, Hong Kong, Seoul, Bangkok, and Jakarta traded in green. The US markets ended the last session on Monday in the positive territory. 

Both foreign and domestic investors turned wary and clocked the first simultaneous sell-off seen in more than a month. Official depository data showed that foreign institutional investors (FIIs) dumped Indian equities worth Rs 525.95 crore on May 19, while the domestic institutional investors (DIIs) pulled Rs 237.93 crore from the segment on the day.

business