Domestic markets turned volatile, after starting higher Tuesday, amid weakness in IT and metal stocks.
Market Today: Domestic markets turned volatile, after starting higher Tuesday, amid weakness in IT and metal stocks.
The S&P BSE Sensex, which opened around 191 points higher, is down 15 points at 71,056 levels, while the Nifty50 traded below 21,600.
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Hindalco slumped 10 per cent, JSW Steel 2 per cent, while Power Grid, Adani Enterprises, Tata Steel, Grasim Industries, Wipro, Bharti Airtel, and Adani Ports declined between 1 per cent and 2 per cent.
In the broader markets, weakness persisted with the BSE MidCap and SmallCap indices slipping 0.38 per cent and 1.2 per cent, respectively.
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Among sectors, the Nifty Metal index fell 3 per cent, the Nifty IT 0.6 per cent, and the Nifty Media 1.2 per cent.
Global Cues
Asian stocks inched higher and the dollar held steady on Tuesday ahead of a key US inflation report that could help shape the Federal Reserve’s rates outlook and determine the timing of interest rate cuts.
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Tokyo stocks opened higher on Tuesday after a long weekend following gains on Wall Street.The benchmark Nikkei 225 index was up 0.99 per cent, or 365.64 points, at 37,263.06 in early trade, while the broader Topix index added 0.88 per cent, or 22.46 points, to 2,580.34.
