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Opinion

Sensex falls 112.74 points to 48,064.06 in the opening session; Nifty slides 38.25 points to 14,094.65. – news from india

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Benchmark Sensex equities fell more than 100 points at the open on Tuesday, following losses in major indices Reliance Industries, ICICI Bank and Kotak Bank amid a weak trend in global equities.

The 30-share BSE Index was trading 112.74 points or 0.23 percent lower at 48,064.06, and the broader NSE Nifty was down 38.25 points or 0.27 percent at 14,094.65.

ONGC was the main laggard in the Sensex package, losing about 2 percent, followed by M&M, NTPC, Bajaj Auto, Kotak Bank, ICICI Bank and Reliance Industries.

On the other hand, Axis Bank, HDFC, TCS and HUL were among the winners.

In the previous session, Sensex closed 307.82 points or 0.64 percent higher at 48,176.80, and Nifty jumped 114.40 points or 0.82 percent to its new life high of 14,132.90.

Foreign portfolio investors (FPIs) were net buyers in the capital market, buying shares worth Rs 1,843.22 crore on a net basis on Monday, according to interim data from the exchange.

According to Binod Modi Head-Strategy at Reliance Securities, domestic stocks do not look inspiring at the moment, as Asian stocks are trading lower on US markets.

“US stocks fell sharply primarily due to growing concern over possible rising costs of borrowing after the 10-year Treasury equilibrium rate rose more than 2 percent yesterday and COVID-19 cases rose along with the resulting locks.

“A new lockdown announced in Britain until at least mid-February weighed on investor sentiment. All eyes would be on Georgia’s runoff elections, in which two Senate seats have the potential to create new volatility in the markets, ”he said.

In the rest of Asia, the Shanghai, Tokyo and Hong Kong stock exchanges were trading negative in mid-session trading, while Seoul was in positive territory.

Meanwhile, the world’s benchmark oil index, Brent crude, was trading 0.14% lower at $ 51.02 a barrel.

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