After five consecutive days of decline in the stock market, the market closed with gains on Monday. However, today the market again reversed and closed in the red with losses. On Tuesday, BSE Sensex fell 250.48 points (0.30%) to close at 83,627.69. At the same time, NSE Nifty 50 index fell 57.95 points (0.42 percent) and closed at 25,732.30 points. It is noteworthy that on Monday, Sensex closed at 83,878.17 points with an increase of 301.93 points (0.36 percent) and Nifty increased by 106.95 points (0.42 percent) at 25,790.25 points.
India VIX rose by 2%. Selling pressure was seen in indices like Pharma, IT, Auto, Realty, Healthcare and Consumer Durables. However, indices like PSU Bank, Media, NBFC and Metal saw gains. On Nifty, Eternal, ONGC, Hindalco, Tech Mahindra, HDFC Bank, SBI and Eicher Motors were among the top gainers. On the contrary, LT, HCL Tech, Dr Reddy, Cipla, Reliance, Bharti Airtel and Trent were among the top losers. Compared to the previous closing price, Sensex opened 201 points higher at 84,079. Nifty opened 107 points higher at 25,897. Bank Nifty opened 317 points higher at 59,767, and in the currency market the rupee opened 10 paise weaker at 90.25/$.
On Tuesday morning, the weekly expiry day for domestic stock markets, there were strong signals from global markets. US markets saw a strong recovery, with the Dow Jones rising 580 points to its highest level ever. The S&P 500 and Russell 2000 also hit new all-time highs, while the Nasdaq closed 60 points higher.
However, Dow futures are looking down by about 75 points ahead of today’s December inflation data. GIFT Nifty was trading with a gain of almost 50 points. In Asian markets, Japan’s Nikkei saw a big rise of around 1700 points on the possibility of early elections.
Talking about domestic institutional activity, foreign investors continued their selling. FIIs sold shares worth ₹3975 crore yesterday, withdrawing money from the market for the sixth consecutive day. In contrast, domestic institutional investors maintained their confidence. Domestic funds continued buying for the 95th consecutive day, injecting ₹5,839 crore into the market. GIFT Nifty was trading around 25900, up about 50 points.