Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, closed lacklustre on Tuesday with no major trigger. BSE Sensex ended the day at 76,456.59, down 33 points or 0.044%. Nifty50 closed the day at 23,264.85, up 6 points or 0.024%.
The top Sensex 30 gainers were L&T, Tata Motors, Maruti Suzuki, NTPC, UltraTech Cement, Tech Mahindra and M&M.The top Sensex 30 losers were Kotak Bank, Asian Paints, ITC, Reliance Industries, Sun Pharma, ICICI Bank and Axis Bank.
The domestic equity market showed little movement on Monday, ending slightly down after hitting lifetime intra-day highs due to the absence of strong new catalysts.
“Investors are now awaiting US Fed and BoJ policy outcome this week along with US and India CPI data. Thus the market is likely to consolidate this week till the clarity emerges,” said Siddhartha Khemka, Head of Retail Research, Motilal Oswal.
According to Nagaraj Shetti of HDFC Securities, the index’s near-term trend remains positive. However, given its current position near the crucial level of 23,300, there is a higher chance of a short-term downward correction. Immediate support is located at the 23,100 level, he said.
Global currency movements saw the Bloomberg Dollar Spot Index rise by 0.1%, the euro remain stable at $1.0764, the Japanese yen hold steady at 157.17 per dollar, and the offshore yuan largely unchanged at 7.2698 per dollar.
Oil prices continued to rise on Tuesday, extending the previous day’s gains due to expectations of higher seasonal fuel demand and potential U.S. crude buys for its petroleum reserve, though a stronger dollar capped the gains. Brent crude futures climbed 28 cents or 0.3% to $81.91 per barrel by 0038 GMT, and U.S. West Texas Intermediate crude futures increased by 31 cents or 0.4% to $78.05.
Stocks in the F&O ban for today include; ZEE, India Cements, SAIL and Balrampur Chini Mills. These securities have entered the ban period under the F&O segment as their positions have crossed 95% of the market-wide position limit.
Foreign portfolio investors were net buyers, making purchases worth Rs 2,572 crore on Monday. Domestic Institutional Investors (DIIs) also bought shares worth Rs 2,764 crore.
The net short position of Foreign Institutional Investors (FIIs) decreased from Rs 1.92 lakh crore on Friday to Rs 1.43 lakh crore on Monday.