The domestic equity markets slipped in Tuesday’s trade after witnessing a skyrocketing session on Monday. The bulls take a breather after a rally on the D-Street.
The indices opened Tuesday’s trading session on a flat to lower note. The NSE Nifty 50 opened 12.40 points, or 0.05%, lower at 24,912, soon falling more than 200 points or 0.84%, to trade near 24,700.
The BSE Sensex opened 89 points, or 0.11%, lower at 82,340 while it declined over 800 points or 1.09%, to trade near 81,500.
Bank Nifty opened 7.60 points or 0.01% lower at 55,375.25. The Nifty Midcap 100 advanced 73 points, or 0.13%, to open at 55,489.40.
“The nifty jumped 3.8% yesterday as tensions eased somewhat in the Indo-Pak conflict. In doing so, the benchmark also confirmed a so-called bullish flip above the 200-day moving average, a signal that has proven to produce short-term positive returns. Support now sits between 24,650 and 24,700, while 25,000 is key psychological resistance,” said Akshay Chinchalkar, Head of Research at Axis Securities.
Here are five key highlights from the early session-
Top performers leading the charge
Among the top gainers on the Nifty 50 were Sun Pharma, Dr Reddy’s Laboratories, IndusInd Bank, Bharat Electronics, and Hero MotoCorp. The top movers in the Nifty 50 were Infosys, L&T, Reliance Industries, HDFC Bank, and Tata Motors as soon as markets opened.
Stocks in the red
Not everything was rosy, though. The stocks that remained under pressure included Infosys, Wipro, Hindalco, Zomato, and Tata Steel, which were among the laggards.
This is a developing story, more details are being added. Please watch the space for updates.