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Stock Market Updates: Nifty, Sensex Drop After Flat Open; IT, Realty Drag; Meesho Down 5%


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Indian equity benchmark indices opened on a flat note and slipped into negative territory on Tuesday

Sensex

Sensex Today: Indian equity benchmark indices traded largely flat on Tuesday after two consecutive sessions of gains, as selling pressure in information technology (IT) and realty stocks countered supportive global cues.

Around 11 AM, the BSE Sensex was at 85,536.96, down 30.52 points or 0.04 per cent, while the NSE Nifty50 hovered at 26,181.95, up 9.55 points or 0.04 per cent.

Power Grid, UltraTech Cement, BEL, Kotak Mahindra Bank, Bajaj Finance, NTPC and HDFC Bank emerged as the top gainers. In contrast, Infosys, Bharti Airtel, TCS, ICICI Bank, Asian Paints, Tech Mahindra, Eternal and Axis Bank weighed on the indices.

In the broader market, the Nifty Midcap index was marginally higher by 0.01 per cent, while the Nifty Smallcap index gained 0.35 per cent.

Sectorally, Nifty IT was the worst performer, slipping over 1 per cent. On the other hand, Nifty Metal advanced 0.63 per cent and Nifty Pharma rose 0.27 per cent.

Global Cues

Asian markets were mostly higher, tracking gains on Wall Street led by artificial intelligence stocks. Japan’s Nikkei 225 was trading nearly flat, while South Korea’s KOSPI advanced 0.73 per cent and Australia’s S&P/ASX 200 gained 0.42 per cent.

US equity markets kicked off the holiday-shortened week on a positive note, supported by continued strength in AI-related stocks. Overnight, the S&P 500 climbed 0.64 per cent, the Nasdaq Composite added 0.52 per cent, and the Dow Jones Industrial Average rose 0.47 per cent.

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