Sensex down 150 points, Nifty below 24,700; Adani Ports falls 3%

India Today

2 days ago

Benchmark stock market indices opened lower on Tuesday, as they continued their consolidation phase without any fresh triggers, as investors remained cautious over global uncertainty.The S&P BSE Sensex was down by 226.44 points to 81,147.31, while the NSE Nifty50 fell by 45.05 points to 24,671.55 as of 9:29 am.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that with a lot of uncertainty in geopolitics, tariffs and trade, the market will continue to remain volatile.advertisement
"Therefore, investors may persist with the strategy of buying on dips. During a consolidation phase, where the market moves within a range, buy on dips is the ideal strategy. And this strategy is working well now," he added.Eternal surged 0.89%, while Mahindra & Mahindra rose with gains of 0.61%. Tata Steel also opened positively, climbing 0.47%, followed by IndusInd Bank, which rose 0.37%. Tata Motors rounded out the top five gainers with an increase of 0.26%.Adani Ports and Special Economic Zone was the worst performer, plunging 1.52% right after the opening bell. Larsen & Toubro also faced heavy selling, declining 1.35%, while Bajaj Finance retreated 1.31%. Hindustan Unilever opened lower by 1.01%, and Bharti Airtel completed the list of top five losers with a drop of 0.99%.Nifty Midcap100 opened marginally lower by 0.01%, while Nifty Smallcap showed resilience with gains of 0.40%. The India VIX rose 0.72%, suggesting some nervousness in the market at the start of trading.advertisementSeveral sectors managed to open in positive territory, with Nifty Realty leading the gainers at 0.65%, followed by Nifty PSU Bank which climbed 0.62%. Nifty Metal also posted solid gains of 0.44%, while Nifty Pharma advanced 0.33% and Nifty Media rose 0.21%. Nifty Auto and Nifty Oil & Gas showed modest gains of 0.10% and 0.02% respectively.On the other hand, several key sectors faced early selling pressure. Nifty Private Bank was the worst performer, declining 0.73%, while Nifty IT fell 0.40% and Nifty Consumer Durables dropped 0.34%. Nifty Healthcare retreated 0.30%, while Nifty FMCG edged lower by 0.16% and Nifty Financial Services declined 0.14%.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)Must Watch