Mumbai: Equity Benchmark Sensex Losses by more than 100 points in early trade on Tuesday, loss in index heads Reliance Industries, HDFC twins and Kotak Bank despite largely positive trend in global markets.
In early deals, the 30-share index was trading at 60,596.36, down 122.35 points or 0.20 per cent. Similarly, the Nifty closed at 18,064, down 45.45 points or 0.25 per cent.
HDFC was the top laggard in the Sensex pack, falling over 1 per cent, followed by Kotak Bank, Asian Paints, Kotak Bank, Reliance Industries and power grid,
On the other hand, Tata Steel, Mahindra & Mahindra, Bajaj Finserv, Maruti, Nestle India And Tech Mahindra were among the recipients.
The Sensex had closed 32.02 points or 0.05 per cent higher at 60,718.71 in the previous session. Similarly, the Nifty rose 6.70 points or 0.04 per cent to 18,109.45.
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 424.74 crore on Monday, according to exchange data.
“Market direction is likely to be largely influenced by global developments, in particular the market’s response to rising inflation.
“Reducing the high US inflation rate of 6.2 per cent in the US and European markets is very important and is likely to provide resilience to global equity markets in the short term, while concerns about higher valuations in stock prices,” VK said. ” Vijaykumar, Chief Investment Strategist, Geojit Financial Services.
Back in India, the RBI has again cautioned that stock prices in India are judged too high by traditional valuation parameters. But the central bank is optimistic about the recovery in the Indian economy, he said.
Elsewhere in Asia, shares in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains in mid-session deals.
Stock exchanges in the US closed with a slight decline in the overnight session.
Meanwhile, international oil benchmark Brent crude rose 0.89 per cent to $82.78 per barrel.
In early deals, the 30-share index was trading at 60,596.36, down 122.35 points or 0.20 per cent. Similarly, the Nifty closed at 18,064, down 45.45 points or 0.25 per cent.
HDFC was the top laggard in the Sensex pack, falling over 1 per cent, followed by Kotak Bank, Asian Paints, Kotak Bank, Reliance Industries and power grid,
On the other hand, Tata Steel, Mahindra & Mahindra, Bajaj Finserv, Maruti, Nestle India And Tech Mahindra were among the recipients.
The Sensex had closed 32.02 points or 0.05 per cent higher at 60,718.71 in the previous session. Similarly, the Nifty rose 6.70 points or 0.04 per cent to 18,109.45.
Foreign institutional investors (FIIs) were net buyers in the capital market as they bought shares worth Rs 424.74 crore on Monday, according to exchange data.
“Market direction is likely to be largely influenced by global developments, in particular the market’s response to rising inflation.
“Reducing the high US inflation rate of 6.2 per cent in the US and European markets is very important and is likely to provide resilience to global equity markets in the short term, while concerns about higher valuations in stock prices,” VK said. ” Vijaykumar, Chief Investment Strategist, Geojit Financial Services.
Back in India, the RBI has again cautioned that stock prices in India are judged too high by traditional valuation parameters. But the central bank is optimistic about the recovery in the Indian economy, he said.
Elsewhere in Asia, shares in Shanghai, Hong Kong, Tokyo and Seoul were trading with gains in mid-session deals.
Stock exchanges in the US closed with a slight decline in the overnight session.
Meanwhile, international oil benchmark Brent crude rose 0.89 per cent to $82.78 per barrel.
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