Stock Market Trades in the Red

Domestic stock market indices continued to experience volatility as the FMCG sector faces selling pressure, coupled with negative signals from international markets. Markets that ended Monday in the red opened Tuesday in a similar downward trend. However, the banking sector is performing strongly, registering gains. Heavyweight stock selling is exerting additional pressure on the indices, keeping both the Sensex and Nifty under pressure.

Compared to Monday’s closing level of 85,439, the Sensex opened Tuesday with a loss of over 100 points and gradually declined further. At one point, it lost more than 400 points, reaching 85,007. It later recovered slightly and was trading at 85,309, down 130 points, at 10:00 AM. The Nifty mirrored this trend and was trading at 26,237, down 12 points.

Among Sensex stocks, NALCO, IIFL, Hindalco, MCX India, and ICICI Bank were trading in the green, while Trent, Reliance, Dabur India, TMW and Sona BLW were under pressure. The Nifty Midcap Index rose by 61 points, and Bank Nifty surged 193 points. The Indian rupee was trading at 90.10 against the US dollar.